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19 May 2022 08:37
TRANSLATION FROM ARABIC
Summary of Resolutions for the Annual General Meeting
EFG Hermes Holding S.A.E.
Held on May 19th, 2022
Resolution no.1
The AGM approved the Board of Directors' report on the company's activities for the financial year ended 31/12/2021.
Resolution no.2
The AGM approved the financial auditor's report on the financial statements for the fiscal year ended 31/12/2021.
Resolution no.3
The AGM ratified the financial statements for the fiscal year ended 31/12/2021.
Resolution no.4
The AGM approved the corporate governance report for the fiscal year ended 31/12/2021.
Resolution no.5
The AGM ratified the increase of the Company's issued and paid in capital from EGP4,865,353,355 to EGP5,838,424,030 through the transfer of EGP973,070,675 from the retained earnings account as at 31/12/2021 to the capital increase account and distributing 194,614,135 bonus shares, representing (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 31/12/2021 as follows:
| For the Fiscal Year ended 31/12/2021 (EGP) | |
Net Profit for the year | 543,639,284 | |
Retained earnings | 729,501,492 | |
Profits appropriate for distribution | 1,273,140,776 | |
Distributed as follows: | ||
Legal Reserve | 27,181,964 | |
Shareholders' dividends- bonus shares | 973,070,675 | |
Employees portion | 63,345,819 | |
Non-Executive Board of Directors' bonus | 2,992,198 | |
Retained Earnings | 206,550,119 | |
Total | 1,273,140,776 |
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 EGP5,838,424,030 distributed on 1,167,684,806 shares.
Article (7) after amendment:
Issued/paid-in capital consists of 1,167,684,806 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 2021.
Resolution no.9
The AGM approved non-executive Board members' remunerations for the fiscal year 2021, and approved the Board of Directors' remunerations, attendance and travel allowances for the fiscal year 2022.
Resolution no.10
The AGM approved the Board of Directors' decision on 13/01/2022 to accept the resignation of Mr. Hatem Abdel Moneim Montasser, Partner at KPMG Hazem Hassan, as the Company's auditor for the fiscal year 2021, and appoint Mr. Ihab Mohamed Fouad Abu Al-Majd, Partner, at KPMG Hazem Hassan, as the Company's auditor for the fiscal year 2021.
Resolution no.11
The AGM approved the reappointment of the Company's financial auditor - Mr. Ihab Mohamed Fouad Abu Al-Majd, Partner, at KPMG Hazem Hassan and delegated the Board of Directors to determine the fees based on a recommendation from the audit committee.
Resolution no.12
The AGM ratified the donations for the fiscal year 2021 which totaled to EGP40,000,000; and authorized the Board to approve donations in excess of EGP1,000 during the fiscal year 2022. Additionally, the AGM ratified a donation of EGP5,000,000 during the fiscal year 2022 for Tahya Misr fund.
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
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