Last checked at 12 Apr 2010 07:00
Summary of the Ordinary General Assembly Meeting The Ordinary General Assembly Meeting of EFG-Hermes Holding Company was held today 11th April 2010 and resolved the following: 1. Ratified the Board of Directors' report for the fiscal year ending 31/12/2009; 2. Ratified the Auditor's Report for the fiscal year ending 31/12/2009; 3. Ratified the audited financial statements for the fiscal year ending 31/12/2009; 4. Approved the appropriation account the fiscal year ending 31/12/2009; distributing EGP1/share with the ex-dividend date set at Wednesday 5th May 2009. Further delegating the Chairperson or either of the Chief Executive Officers to change either the ex-dividend date or the cashing of dividends date as per regulatory or procedural requirement as need be.; 5. Approved the release of the Board of Directors' from liability for management for the fiscal year ending 31/12/2009; 6. Approved the Board of Directors' allowances for attending the meetings in 2010 to be actual expenses; 7. Approved the re-assignment of the auditors (KPMG- Hazem Hassan) for the fiscal year 2008 with fees of EGP 80,000: 8. Ratified the donations that took place during 2009 (mainly EGP 12 million to the EFG-Hermes Foundation) and approving authorization to the Board of Directors to donate during the fiscal year 2010 amounts greater than EGP 1,000 including up to a maximum of EGP 12 million to the EFG-Hermes Foundation.