Last checked at 31 Mar 2016 09:21
Summary of Edita Ordinary AGM Resolutions
Edita Food Industries SAE
Convened on Wednesday, March 30, 2016.
1. The Ordinary General Assembly by unanimous vote of shareholders presented and represented in the meeting approved the report of the Board of Directors for the fiscal year ended 31/12/2015.
2. The Ordinary General Assembly by unanimous vote of shareholders presented and represented in the meeting approved the Auditor's report for the independent and consolidated financial statements for the fiscal year ended 31/12/2015.
3. The Ordinary General Assembly by unanimous vote of shareholders presented and represented in the meeting approved the budget and the profit and loss accounts of the Company for the fiscal year ended 31/12/2015.
4. The Ordinary General Assembly by unanimous vote of shareholders presented and represented in the meeting approved the proposed dividend distributions to include distribution of part of the company's profits for the fiscal year ended on 31/12/2015 to shareholders in the amount of EGP 153.568.353 distributed as EGP 81,032,063 in the form of cash dividend (EGP0.223 per share) and in the form (free shares) one free share for each share valued EGP 72.536.290, and to authorize the Board Chairman and the Managing Director or his authorized representative in determining the date to pass the Cash Dividend , and take the necessary measures in this regard with all parties concerned, as well as to take the necessary actions to all concerned bodies on distribution of free shares.
a) The Ordinary General Assembly, by unanimous vote of the Shareholders present and represented in the Meeting, approved the discharge of the Board of Directors from liability during the Financial Year ended on December 31st, 2015.
b) The Ordinary General Assembly, by unanimous vote of the Shareholders present and represented in the Meeting, approved to determine bonuses and allowances of members of the Board of Directors for the Financial Year ended on December 31st, 2015 as follows:
- Attendance and travel allowance of 30,000 EGP per director per board meeting
- For the audit committee and other ancillary committees, EGP 25,000 per member per meeting
- An annual bonus for the work and efforts of the directors of EGP 150,000 per director at the end of the year.
7. The Ordinary General Assembly, by unanimous vote of the Shareholders present and represented in the Meeting, acknowledged absence of any related party agreements for the past year and the upcoming year.
The Ordinary General Assembly, by unanimous vote of the Shareholders present and represented in the Meeting, approved to authorize the Board of Directors to donate during the financial year ended 31/12/2016 with a maximum of 5 million Egyptian pounds, and to approve contributions made during the financial year ended 31/12/2015.
8. The Ordinary General Assembly, by unanimous vote of the Shareholders present and represented in the Meeting, approved to appoint Mr. Ahmed Gamal Hamadullah Al-Atrees "Mansour & Company PricewaterhouseCoopers" as the Company Auditor for the financial year ending on 31/12/2016, at fees of EGP 536,385 for auditing the annual and periodical independent and consolidated financial statements as of 2015, and determining its fees for auditing the annual and periodical independent and consolidated financial statements according to International Standards on Auditing not to exceed USD 35000.
Contact
Ms. Menna Shams El Din
Manager (Investor Relations and Business Development)T: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg
Summary of the Extraordinary AGM Resolutions
Edita Food Industries SAE
convened on Wednesday, March 30, 2016.
The Ordinary General Assembly, by unanimous vote of the Shareholders present and represented in the Meeting, approved to increase the issued paid-up capital from EGP 72,536,290 to EGP 145,072,580 pounds, which is an increase of EGP 72,536,290, divided into 362,681,450 shares with a nominal value of 0.20 pounds per share, financed by the net profits of the fiscal year ended 31/12/2015, as of one bonus share for each original share, and to authorize the Board Chairman and the Managing Director or his authorized representative to adopt all the required measures before the Egyptian Financial Supervisory Authority for, The Egyptian Exchange, Misr for Central Clearance, Depository and Registry, London Stock Exchange, and the Bank of New York Mellon concerning the issuance and registration of free increase shares and the deposit certificates program, and to amend Articles 6 and 7 of the Company's Articles of Association in light thereof.
Contact
Ms. Menna Shams El Din
Manager (Investor Relations and Business Development)T: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg