Last checked at 20 May 2021 16:01
TRANSLATION FROM ARABIC
Summary of Resolutions for the Annual General Meeting
EFG Hermes Holding S.A.E.
Held on May 20th, 2021
Resolution no.1
The AGM approved the Board of Directors' report on the company's activities for the financial year ended 31/12/2020.
Resolution no.2
The AGM approved the financial auditor's report on the financial statements for the fiscal year ended 31/12/2020.
Resolution no.3
The AGM ratified the financial statements for the fiscal year ended 31/12/2020.
Resolution no.4
The AGM approved the corporate governance report for the fiscal year ended 31/12/2020.
Resolution no.5
The AGM ratified the increase of the Company's issued and paid in capital from EGP3,843,091,115 to EGP4,611,709,340 through the transfer of EGP768,618,225 from the retained earnings account as at 31/12/2020 to the capital increase account and distributing 153,723,645 bonus shares, (1) bonus share for every 5 shares held by each shareholder, and authorized the CEO to determine the bonus shares ex-date in accordance with the FRA, EGX and MCDR procedures.
Resolution no.6
The AGM approved the appropriations account for the fiscal year ended 31/12/2020 as follows:
|
| For the Fiscal Year ended 31/12/2020 (EGP) |
| Net Profit for the year | 126,773,781 |
| Retained earnings | 1,483,535,650 |
| Profits appropriate for distribution | 1,610,309,431 |
| Distributed as follows: |
|
| Legal Reserve | 6,338,689 |
| Shareholders' dividends- bonus shares | 768,618,225 |
| Employees portion | 85,402,025 |
| Non-Executive Board of Directors' bonus | 20,449,000 |
| Retained Earnings | 729,501,492 |
| Total | 1,610,309,431 |
Resolution no.7
The AGM approved amending articles (6) and (7) of the company's statutes in light of the proposed capital increase as follows:
Article (6) after amendment:
· Authorized capital of EGP6 billion and issued/paid-in capital of EGP4,611,709,340 distributed on 922,341,868 shares.
Article (7) after amendment:
Issued/paid-in capital consists of 922,341,868 shares with a par value of EGP5 per share.
Resolution no.8
The AGM approved the discharge of the Board members from all liabilities concerning the activities of fiscal year 2020.
Resolution no.9
The AGM approved non-executive Board members' remunerations for the fiscal year 2020, and approved the Board of Directors' remunerations, attendance and travel allowances for the fiscal year 2021.
Resolution no.10
The AGM approved the reappointment of the Company's financial auditor - Mr. Hatem Abdel Moneim Montasser of KPMG Hazem Hassan - for the fiscal year 2021 and delegated the Board of Directors to determine the fees based on a recommendation from the audit committee.
Resolution no.11
The AGM ratified the donations for the fiscal year 2020 which totaled to EGP40,000,000; and authorized the Board to approve donations in excess of EGP1,000 during the fiscal year 2021. Additionally, the AGM ratified a donation of EGP20,000,000 for Tahya Misr fund to help in providing COVID-19 vaccines.
For further information:
Investor Relations Department
Email: investor-relations@efg-hermes.com
Tel: +20 (0)2 35356710
Fax: +20 (0)2 35357017
Head of Investor Relations - Hanzada Nessim
Email: hnessim@efg-hermes.com
Tel: +20 (0)2 35356502
Fax: +20(0)2 3535 7017
www.efg-hermes.com