George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCom.int.bk.regs Regulatory News (CBKD)

Share Price Information for Com.int.bk.regs (CBKD)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1.594
Bid: 1.592
Ask: 1.596
Change: 0.00 (0.00%)
Spread: 0.004 (0.251%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 1.594
CBKD Live PriceLast checked at -
  • This share is an international stock.

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

CIB's EGM Resolutions (March 15th 2020)

16 Mar 2020 07:00

RNS Number : 1868G
Commercial Intnl Bank (Egypt) SAE
15 March 2020
 

1/3

 

Extraordinary General Assembly

15 March 2020

Resolutions Summary

 

Subject

 

Issuance of Financial Instruments

 

Based on the resolution of CIB's Board of Directors in its meeting of February 03, 2020 and in accordance of Article "19" of the Bank's Statute, the Extraordinary General Assembly provided its approval on the following:

 

First: To delegate the Board of Directors to issue financial instruments (bonds or Subordinated Debt) to finance various business activities. Both instruments can be included at the Bank Capital and/or Tier II recognition. The terms of issuance could include all needed guidelines to include the financial instruments in capital if required. The financial instruments could be tradable, and it could be convertible into shares and could be subordinated (the bondholder or lender has to waive his repayment priority right) according to the discretion of the Board of Directors and in accordance with the regulations of the Central Bank of Egypt.

 

Second: To delegate the Board of Directors in determining the date and all terms pertaining to the issuance and in amending any term as requested by the governing authorities or as viewed necessary by the Board of Directors in light of the market perceived conditions and in compliance with the prevailing laws.

 

Third: To delegate the Board of Directors to fulfill all related issuance requirements and procedures during the two years following the Extraordinary General Assembly's approval in accordance with the Companies Law 159 for 1981 and Law 95 for 1992 and their executive regulations.

 

Following is the proposed issuance structure:

 

1) Value of Bonds and/or Subordinated Debt to be issued:

A maximum of 15 billion Egyptian Pounds or its equivalent in Foreign Currencies to be issued in one or more tranches through a public offering or a private placement through local or international markets.

 

2) Purpose of Issuance:

To finance the Bank's expansion plan.

 

 

 

 

CIB Extraordinary General Assembly 15 March 2020

Resolutions Summary

 

 

3) Par Value per bond and/or subordinated debt:

The Board of Directors to determine the par value per bond or subordinated debt for each issuance locally and internationally.

 

4) Issuance fees and commission:

The Board of Directors is to set the fees and commissions for each bond or loan issued in Egyptian Pounds or foreign currency and in case of issuing the bond or subordinated debt in international markets, fees and commissions are to be set in accordance with the international standards.

 

5) Bond Denomination:

The bonds may be in denominations of one bond, ten bonds, one hundred bonds and one thousand bonds.

 

6) Bonds and/or subordinated debt Tenor:

The bonds and subordinated debt to be issued for a tenor of no less than five years and no more than ten years as determined by the Board of Directors in each issuance provided that the bonds or subordinated debt will be fully amortized by the end of the issuance tenor and the Bank has the right to repay prior to the final maturity date.

Also, the Bank has the right to issue the bonds or subordinated debt, provided that, the bondholder or lender shall waive his repayment priority as determined by Board of Directors and the redemption value of bonds or subordinated debt should be prioritized after debts and any other financial liabilities.

 

7) Convertibility of Bonds and/or subordinated debt into Shares:

A maximum of fifteen billion Egyptian Pounds or its equivalent in foreign currency of bonds or subordinated debt may be converted into stocks according to the terms determined by the Board of Directors and in compliance with the prevailing laws.

 

8) Rate of Return for Bonds and/or subordinated debt:

A fixed or floating rate of return is to be determined by the Board of Directors for each issuance.

 

9) Coupon Tenor:

To be determined by the Board of Directors for each issuance.

 

10) Minimum Subscription Amount:

To be determined by the Board of Directors for each issuance.

 

11) Bonds or subordinated debt Offering:

Bonds or subordinated debt to be offered in local and/or international markets and in one or more public offering or private placement as determined by the Board of Directors for each issuance.

 

 2/3

 

CIB Extraordinary General Assembly 15 March 2020

Resolutions Summary

 

 

12) Other Terms for Bonds and/or subordinated debt:

 

Delegate the Board of Directors in fulfilling all necessary steps and procedures in relation to bonds or subordinated debt issuance, determining the convertible and non-convertible tranches, dates and methods of issuance, currency for each tranche, returns, related fees commissions, determining fees and commissions to be paid to foreign banks involved in the issuance in accordance of the international standards, determining any other terms for the issuance of the bonds or subordinated debt, whether over one or more tranches and in amending any term as necessary provided that it is in compliance with the prevailing laws and delegating the Chairman and Managing Director or his delegates in dealing with all administrative departments and finishing all necessary procedures related to issuing the previous mentioned financial instruments.

 

 

 

http://www.rns-pdf.londonstockexchange.com/rns/1868G_1-2020-3-15.pdf 

 

 

 

3/3

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ROMEASDSFFFEEFA
Date   Source Headline
26th Mar 20247:49 amRNSChanges in CIB's BOD - 25 March 2024
26th Mar 20247:00 amRNSOGM Resolutions - March 25th, 2024
26th Mar 20247:00 amRNSEGM Resolutions - March 25th, 2024
20th Feb 20247:00 amRNSNotice of AGM
20th Feb 20247:00 amRNSInvitation to Extraordinary GM (EGM)
16th Nov 20233:45 pmRNSCIB secures a USD 150M subordinated loan from EBRD
3rd Nov 20237:05 amRNS3Q23 Earnings Release
3rd Nov 20237:05 amRNS3rd Quarter Results
3rd Nov 20237:05 amRNS3rd Quarter Results - Consolidated
23rd Aug 20237:14 amRNSAppointment of Mr. Jawaid Mirza in CIB's BOD
24th Jul 20238:00 amRNSCIB 1H2023 Earnings Release
24th Jul 20238:00 amRNSCIB1H2023 Condensed Consolidated Financials
24th Jul 20238:00 amRNSCIB 1H2023 Separate Condensed Financial Statements
10th Jul 20238:00 amRNSCIB obtaining Long term loans from IFC
15th May 20237:00 amRNSCIB 1Q23 - Earnings Release
15th May 20237:00 amRNSCIB Q1-2023 Separate Financial Statements
15th May 20237:00 amRNSCIB 1Q23 Consolidated Financial Statements
20th Mar 20236:26 pmRNSCIB's FY22 IFRS 9 Financial Statements
20th Mar 20235:02 pmRNSResolutions Extraordinary General Assembly
20th Mar 20234:55 pmRNSResolutions Ordinary General Assembly (OGM)
16th Feb 20237:00 amRNSInvitation to CIB's Ordinary General Assembly
16th Feb 20237:00 amRNSInvitation to CIB's Extraordinary General Assembly
13th Feb 20237:00 amRNSCIB - 4Q 2022 Earnings Release
13th Feb 20237:00 amRNSCIB Q4-2022 Separate Financial Statements
13th Feb 20237:00 amRNSCIB Q4-2022 Consolidated Financial Statements
30th Jan 20237:00 amRNSCIB fully acquires MayFair CIB (Kenya)-Replacement
27th Jan 20235:51 pmRNSCIB fully acquires Mayfair CIB
11th Jan 20234:41 pmRNSSecond Price Monitoring Extn
11th Jan 20234:35 pmRNSPrice Monitoring Extension
8th Dec 202212:25 pmRNSPress Release dated 8 December 2022
22nd Nov 20228:14 amRNSChanges in CIB's Board of Directors
4th Nov 20227:00 amRNS3rd Quarter 2022 (Earnings Release)
4th Nov 20227:00 amRNSBoard Resolutions Summary 3 Nov 2022
4th Nov 20227:00 amRNS3rd Quarter 2022 Results (Separate)
4th Nov 20227:00 amRNS3rd Quarter 2022 Results (Consolidated)
15th Aug 20227:00 amRNSChange in CIB's CEO Retail Banking
25th Jul 20227:00 amRNSCIB 1H2022 Condensed Separate Financial Results
25th Jul 20227:00 amRNSCIB1H2022 Earnings Release
25th Jul 20227:00 amRNSCIB1H2022 Consolidated Condensed Financial Results
19th May 20223:09 pmRNSChange in CIB's Board of Directors
29th Apr 202212:17 pmRNSCIB FY 2021 IFRS Annual Financial Report
19th Apr 20227:00 amRNSCIB 1Q2022 Earnings Release
19th Apr 20227:00 amRNSCIB1Q2022 Condensed Consolidated Financial results
19th Apr 20227:00 amRNSCIB 1Q2022 Condensed Separate Results
28th Mar 20227:00 amRNSCIB's AGM Resolutions Summary
10th Mar 20224:41 pmRNSSecond Price Monitoring Extn
10th Mar 20224:36 pmRNSPrice Monitoring Extension
9th Mar 20224:36 pmRNSPrice Monitoring Extension
4th Mar 20227:00 amRNSInvitation toCIB Ordinary General Assembly Meeting
22nd Feb 20227:00 amRNSCIB FY 2021 Separate Financial results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.