11 May 2017 10:14
Board of Directors meeting held on May 10, 2017
Cairo May 11, 2017
The Board of Directors in its meeting on May 10, 2017 unanimously resolved the following:
1- Approved the minutes of the previous Board of Directors meeting.
2- Approved starting the operating tests of the bakery production line in July and starting the production in Q4 2017.
3- The board reviewed the steps taken on the production of the yellow and roumy cheese and it became clear that most of the components of the production line were supplied and the supply and installation of the remaining components of the line are being completed, The board has postponed consideration of the date of commencement of production until the completion of the supply and installation of the line.
4- Approved changing the useful life of transport vehicles to become ten years and determining the relevant residual value in accordance with the Egyptian accounting standard number 10.
5- The board reviewed the contract for the opening of outlets for selling the company's products at the subway stations ,the board approved the contract and decided to take effect starting May 2017.
-Ends-
Contacts:
Ahmed El HomosaniInvestor Relations and Corporate Affairs DirectorT: +202- 010 - 6665 4045| ahmed.elhomosani@domty.org
Ahmed Mohy Compliance and Corporate Governance managerT: +202- 010 - 0555 2235| ahmed.mohy@domty.org
Further information on Domty can be found on Domty's website at http://ir.domty.org/en/.