Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the 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: 1.482
Bid: 0.00
Ask: 1.83
Change: 0.00 (0.00%)
Spread: 0.348 (23.482%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 1.482
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

Items to be discussed in EGM of March 15th, 2020

20 Feb 2020 14:39

RNS Number : 6519D
Commercial Intnl Bank (Egypt) SAE
20 February 2020
 

1/3

 

Extraordinary General Assembly

15 March 2020

 

Summary of Issues to Be Discussed

 

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 approval of the Extraordinary General Assembly is sought 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.

 

 

 

2/3

 

CIB Extraordinary General Assembly 15 March 2020

Summary of Issues to be Discussed

 

 

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.

 

3/3

 

CIB Extraordinary General Assembly 15 March 2020

Summary of Issues to be Discussed

 

 

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.

 

 

 

 

 

 

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
 
 
MSCFZGZZDGVGGZM
Date   Source Headline
22nd Feb 20227:00 amRNSCIB FY 2021 Consolidated Financial Results
22nd Feb 20227:00 amRNSCIB FY2021 Earnings Release
12th Nov 20217:00 amRNSCIB 3Q21 Separate Condensed Financial Results
12th Nov 20217:00 amRNSCIB 3Q21 Earnings Release
12th Nov 20217:00 amRNSCIB 3Q21 Condensed Consolidated Financial Results
13th Jul 20217:00 amRNSCIB1H2021 Earnings Release
13th Jul 20217:00 amRNSCIB1H2021 Condensed Consolidated Financial Results
13th Jul 20217:00 amRNSCIB 1H2021 Condensed Separate Financial Results
24th Jun 20213:43 pmRNSRelease re the change of title of Mr.Hussein Abaza
24th May 20217:00 amRNSCIB 1st Quarter Separate Financial Results
24th May 20217:00 amRNSCIB 1st Quarter Consolidated Financial Results
24th May 20217:00 amRNSCIB 1Q2021 Earnings Release
29th Apr 202110:09 amRNSCIB FY2020 Annual Financial Report
31st Mar 20215:28 pmRNSResolutions of CIB ordinary GAM held on March 30
8th Mar 20218:24 amRNSInvitation to CIB OrdinaryGeneral Assembly Meeting
8th Mar 20217:00 amRNSRelease regarding a change in CIB's BOD Structure
1st Mar 20217:00 amRNSCIB FY20 Consolidated Results
1st Mar 20217:00 amRNSCIB FY20 Year End Separate Financial Results
1st Mar 20217:00 amRNSCIB FY20 Year End Earnings Release
16th Dec 20207:00 amRNSCIB 3rd Quarter Separate Condensed Results
16th Dec 20207:00 amRNSCIB 3rd Quarter Consolidated Condensed Results
16th Dec 20207:00 amRNSCIB 3Q20 Earnings Release
16th Nov 20207:00 amRNSCIB Release on November 15th,2020
27th Oct 20202:28 pmRNSCIB's Press Release dated October 27th, 2020
23rd Oct 20203:59 pmRNSCIB Press Release
12th Oct 20204:13 pmRNSRelease concerning changes in CIB'sBoard Structure
22nd Sep 20202:33 pmRNSRelease on change in Board of Directors Structure
15th Sep 20204:35 pmRNSPrice Monitoring Extension
14th Jul 20207:00 amRNSCIB First Half 2020 Earnings Release
14th Jul 20207:00 amRNSCIB Consolidated Interim Condensed June Statements
14th Jul 20207:00 amRNSCIB Interim Separate Condensed June Statements
1st Jul 20201:04 pmRNSRelease on Subordinated debt from CDC
5th May 20207:00 amRNSCIB reports 1Q20 Earning Release
5th May 20207:00 amRNSCIB 1st Quarter Consolidated Results
5th May 20207:00 amRNSCIB 1st Quarter Separate Results
28th Apr 20207:00 amRNSCIB Year End 2019 IFRS Consolidated Results
27th Apr 20207:00 amRNSCIB acquires 51% of Mayfair Bank in Kenya
30th Mar 20209:00 amRNSRelease on CEO self-quarantine
24th Mar 202012:02 pmRNSPrice Monitoring Extension
16th Mar 20207:00 amRNSCIB's EGM Resolutions (March 15th 2020)
16th Mar 20207:00 amRNSCIB's AGM Resolutions (March 15th 2020)
20th Feb 20202:39 pmRNSItems to be discussed in EGM of March 15th, 2020
20th Feb 20202:37 pmRNSItems to be discussed in AGM of March 15th, 2020
18th Feb 20202:31 pmRNSInvitation to CIB Extraordinary GAM
18th Feb 20202:29 pmRNSInvitation toCIB Ordinary General Assembly Meeting
4th Feb 20207:00 amRNSFY 2019 Separate Financial Results
4th Feb 20207:00 amRNSFY 2019 Earnings Release
4th Feb 20207:00 amRNSFY 2019 Consolidated Financial Results
5th Nov 20197:00 amRNSCIB 3Q 2019 Consolidated Financial Results
5th Nov 20197:00 amRNSCIB Separate 3rd Quarter 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.