AMOC.L Regulatory News (AMOC)

Resolution

BOD had unanimously Ratified minutes of the previous Board meeting ( session 12) that was held on September 8,2018

Resolution 113

· BOD had been informed of the Chairman's Business travel(which previously approved by Circulation) to Dubai, UAE due to an invitation sent from Arqaam Capital to attend the 5th Annual Arqaam Capital MENA investor Conference 2018 from September 23, 2018 to September 26, 2018.

· The Administrative affairs department and the Financial affairs department shall follow-up implementation.

Resolution 114

· BOD had been informed that the contract between AMOC and Mr. Hisham Lotfy Mohamed Hassan had been renewed to occupy the post of the chairman' consultant for Security and Management against 35,000 EGP/Month for a period of 1 year starting from October 1, 2018 (which previously approved by Circulation).

· BOD to assign Mr. Hisham Lotfy to fill the post of Director of Petroleum Hospital (Alexandria, Egypt) and AMOC shall bear the cost of contract.

· The Administrative affairs department and the Financial affairs department shall follow-up implementation.

Resolution 115

· BOD had been informed of the recommendation issued by the Decision making committee in terms of importing a Catalist for the reactor FA-304 in Unit 300 (Operation 9/2018 -specialized-) from Axens, France through the agent ORKILA which previously approved by BOD With a total value of €144,130.20 Equivalent to about 3,019,528 EGP including the cost of Certificate (Euro 1) and according to the justifications reported and its attachments.

· The Engineering affairs, the Financial affairs and The Materials departments shall follow-up implementation.

Resolution 116

· BOD approved on the recommendation issued by the Decision making committee regarding the supply of 8 anti-explosion lighting panels for oil complex units from Eagle Engineering services company (operation 60/2018-2019 -specialized-) with a total value of 2,517,474.54 EGP (Including VAT) With a supply period of 20 to 22 weeks With a copy of a certificate of origin approved by the German Chamber of Commerce and issued by the Federal Republic of Germany (EUROPEAN UNION) And to provide a certificate of guarantee from Eagle Engineering services company guarantees the panels for12 months from the date of operation or 18 months from the date of supply against the defects of industry knowing that the estimated value for operation (60/2018-2019 -specialized-) is 2,350,000 EGP and this is according to the justifications reported and its attachments.

· The Engineering affairs, the Financial affairs and The Materials departments shall follow-up implementation.

Resolution 117

· BOD approved on the recommendation issued by the Decision making committee regarding the import of spare parts for the maintenance of pumps in oils and diesel complex from Sundyne, France through the agent Crown Engineering, Egypt company (operation 2/2019 -specialized-) with a total value of €124,107.46 which is Equivalent to about 2,575,229 EGP )CIP Borg El Arab International Airport( including certificate Euro 1 deceleration, and this is according to the justifications reported and its attachments.

· The Engineering affairs, the Financial affairs and The Materials departments shall follow-up implementation

Resolution 118

· BOD approved on the recommendation issued by the Decision making committee regarding replacement and renovation of the control and monitoring system for the electricity plant of the oil complex to assign the operation (50/2018 -International-) on ABB with a total value of $243,500 which is Equivalent to about 4,353,780 EGP not including VAT, knowing that the estimated value for operation (50/2018 -International-) is 6,500,000 EGP including VAT. And this is according to the justifications reported and its attachments.

· The Engineering affairs, the Financial affairs and The Materials departments shall follow-up implementation

Resolution 119

· BOD has been briefed on the production position of the company during the period from July 2018 to September 2018 Compared to the scheme and the events of the corresponding period, and this is according to the justifications reported and its attachments.

· The Production Planning/ Operation economics and Technical Follow up/ Financial affairs departments shall follow-up implementation

Resolution 120

· BOD has been briefed on the position of marketing the products of the company during the period from July 2018 to September 2018, which is about 435 Kilotons with a total value of 4.1 bln EGP including $100.6 MM, and this is according to the justifications reported and its attachments.

Resolution 121

· BOD has been briefed on the financial statements of the company before the offer to the auditors for the financial period ended in 30/9/2018

Resolution 122

· BOD has been briefed with the OGM of Alex wax product company (AWPC) for the financial year (2017/2018).

Resolution 123

· BOD had Approved of the recommendation of the Petroleum Products and Services Committee to amend the purchase price of HCO from Star trade Company for 3000 tons / month at 7900 LE / ton, including VAT. Delivery of AMOC warehouses. The price of the ton of diesel produced by AMOC in July, $ 603.48 (about LE 10,772) and the estimated value of this amount is about one million pounds per month including VAT.

· Marketing and sales department /financial affairs department shall follow-up implementation.

Resolution 124

· BOD has Approved the recommendation of the petroleum products disposal committee No. (4/2018/M) regarding the export of five shipments of diesel to AOT Trading & SOCAR Trading companies for the quantity of about 30 thousand tons / shipment with a (10% of the increase or decrease) of BLIND OIL ( FOB Alexandria) during (September and October 2018) divided by three shipments of SOCAR and two shipments to AOT Trading at the price of tone according to the average price of diesel (3.5%) of FOB MED for the month of shipment at a rate of 0.5 USD per ton for AOT and a deduction of 0.5 USD / Socar - The estimated value of the shipment is about 12.54 million dollars.

· Marketing and sales department /financial affairs department shall follow-up implementation.

Resolution 125

· BOD approved on the recommendation issued by the Decision making committee in terms of Petroleum products regarding purchase 1000 Tons/month of Residue from World White Company for a monthly total value of 5,750 EGP including VAT, And this is according to the justifications reported and its attachments.

· The Engineering affairs, the Financial affairs and The Materials departments shall follow-up implementation

Resolution 126

· BOD had been briefed of the financial position of the company's employee' special regulations on June 30, 2018 which could be enhanced as is the case with the petroleum sector and this is according to the justifications reported.

Resolution 127

· BOD had approved an amicable settlement with the Tax expert Mr. Mohamed Mahrous Mohamed regarding his Receivables according to the agreement conducted with him in terms of the previous conflict against the tax Authority which subject to collect taxes on naphta product that had been delivered to EGPC, and this is according to the justifications reported.

· Financial affairs and the legal affairs shall follow-up implementation.

Resolution 128

· BOD had approved on purchase the National Bank of Kuwait' shares in Alexandria specialized petroleum products company (ASPEC) which amounts to 104000 shares representing 5.2% of (ASPEC)'s capital for a total value of 12,000,000 EGP (115.384 EGP/ share) such share's nominal value in 100 EGP, and this is according to the justifications reported.

· Investment/Financial departments shall follow-up implementation.

Resolution 129

· BOD had approved to conduct an agreement with Zaki Hashem & partners law firm for specialized legal consultations as it is considered the best offer presented to AMOC and according to its Previous experience in such field and to its Previous experience with EGPC and many petroleum companies for a total value of 120,000 EGP (12 hours for a firm-partner) and (20 hours for firm-lawyers), and this is according to the justifications reported.

· Investment/Financial departments shall follow-up implementation.

Resolution 130

· BOD has Approved of the amendment to the qualifications needed for specialized jobs inside the Electric Engineer department to be BA in(Electrical power - communications - electronics- Automatic Control) instead of Electrical power only, such amendment is to keep up with the tools and the control system's technology development, and this is according to the job requirements and the reported justifications.

· Administration department shall follow-up implementation.

Resolution 131

· BOD has approved creating a new department named department of Contracts and legal advice and to be subordination to the general manager of the Legal Department as shown in the Organizational structures and comparison table and job requirements and the reported justifications.

Administration department shall follow-up implementation

Resolution 132

· BOD has approved creating a new department (research and sustainable development) and to be subordination to the General secretariat for Board of Directors as shown in the Organizational structures and comparison table and job requirements and the reported justifications.

· Administration department shall follow-up implementation.

Resolution 133

· BOD has approved on the recommendation issued by the Decision making committee regarding purchase of LHB from MOC Company (Operation 6/2018/M) for an amount around 3000 Tons / month with a cost of 5,750 EGP/Month including VAT with the same specifications agreed upon with World White and according to the justifications reported and its attachments.

· Marketing and Purchase/Financial affairs department shall follow-up implementation.

Resolution 134

· BOD approved a draft Memorandum of Understanding between AMOC and MEDOR regarding the expanding the corporation between the two companies in all commercial and operational affairs according to the justifications reported and its attachments.

· Marketing and Purchase/Financial affairs/Production planning/ and The Technical Office department shall follow-up implementation.

Resolution 135

· Approving the donation to Associations and Hospitals and a traffic unit and some school in Alexandria with a total value of 1,432,487 EGP, such donation based on the company's interest in its Community Services Responsibilities by participating in many activities and business with the local community as follows:

·  Donate 16,400 EGP to Alexandria Association for Cultural Care for the Blind in order to buy a Braille printing.

·  Donate 32,000 EGP to Coptic Hospital in Alexandria to provide the needs of dialysis department

·  Donate 30,500 EGP to Alexandria Health CenterTo purchase equipment for the Center (offices / chairs / social table)

· Donate 40,000 EGP to West Alexandria Traffic UnitFor the purchase of three tons of iron and ten tons of cement and 25 meters cement bricks to restore the archive of licenses for Al-Ajami traffic Unit.

· Donate 100,000 EGP For the General Union of Petroleum Workers in Alexandria to equip the union building

· Donate 850,000 EGP For the petroleum hospital to buy two anesthesia devices for operations.

· Donate 200,000 to Future Hands Association in Alexandria to cope with the continuous increase in the number of tumor patients who cannot afford the cost of treatment, and to establishment of an internal department to receive patients.

· Donate 93,587 EGP to some schools in Alexandria in order to pay tuition fees for some students with poor and low income parents who cannot afford to pay tuition fees for FY (2018/2019) .

· Donate 20,000 to Nour Al Haq Islamic Charitable Society for its needs in order to maintain the medical center of the Society.

· And according to the justifications reported.

· The Financial affairs department shall follow-up implementation.

Resolution 136

· BOD has been informed of the termination of the contract of Ms. Dina (chairman advisor for Investor relation) on September 1, 2018 and as reported.

· The Financial affairs department and the Investment department shall follow-up implementation.

Current Year Financial Performance for Operational Activities Ended in 30-September-2018

(1) Financial Indicators:

(A) Income Statement Summary Results Ended in 30-Sep-2018:

Current Year Figures30-Sep-2018

Comparing Year Figures30-Sep-2017

Percentage ofChange

Sales Revenue

4,105,177,988

3,528,870,582

16%

Gross Profit

304,278,033

522,392,743

-42%

Gross Profit Margin

7%

15%

-50%

Net Profit Before Tax & Normal Operation

257,126,977

450,463,404

-43%

Net Profit Before Tax & Extra Ordinary Items

310,904,727

504,593,154

-38%

Net Profit After Tax

253,094,434

402,647,372

-37%

Earning Per share

0.18

0.42

-57%

(B) Balance Sheet Statement Summary Results Ended in 30-Sep-2018:

Current Year Figures30-Sep-2018

Comparing Year Figures30-Sep-2017

Percentage ofChange

Net Working Capital

1,638,380,118

2,681,536,038

-39%

Share Holder's Equity

2,661,966,463

3,660,358,115

-27%

Paid in Capital

1,291,500,000

1,291,500,000

0%

Reserves

1,117,372,029

881,497,258

27%

Net Profit

253,094,434

1,487,360,857

-83%

(C ) Cash Flow Statement Summary Results Ended in 30-Sep-2018:

Current Year Figures30-Sep-2018

Comparing Year Figures30-Sep-2017

Percentage ofChange

Net Cash Flow From Operating Activities

- 1,147,299,807

- 389,839,611

1.9%

Net Cash Flow From Investing Activities

- 4,627,845

- 1,817,616

1.5%

Net Cash Flow From Financing Activities

- 864,036,086

- 115,004,831

6.50%