Last checked at 26 Jul 2016 17:00
Board of Directors' Meetings Held on 26 July 2016
Cairo, 26 July 2016
The Board of Directors in its meetings 26 July, 2016 unanimously resolved the following:
1. Approved the minutes of the previous Board of Directors Meeting.
2. The latest industrial operations developments and new products pipeline. Main developments include a new candy line currently under installation in the company's factory E15 with an expected capacity of two thousand tons per annum. Additionally, Edita finalized the purchase of a new Wafer line with an expected capacity of three thousand tons per annum to be operational in 2017 in Edita's new factory E08.
3. The purchase of a new land to implement a new project aims to protect the recipe and knowhow confidentiality of Edita's end products. A premix formula/input blend will be produced on the new land to supply Edita's other factories. Furthermore, the project aims to enhance the efficiency of the production process.
4. The Board of Directors approved the resignation of the Company's Chief Financial officer. The appointment of the new Chief Financial Officer will be announced once a decision is made.
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-Ends-
Contacts
Ms. Menna Shams El Din
Investor Relations and Business Development DirectorT: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg
Ms. Yasmine Ghobrial
Senior Investor Relations SpecialistT: +202 3851 6464 | M: +20 1227563935 | Yasmine.ghobrial@edita.com.eg