Edita Food Regs Regulatory News (EFID)

Cairo, March 29, 2017

Edita Food Industries SAE announces that the Ordinary General Meeting of the Company convened on Tuesday, March 28, 2017 and resolved the following resolutions:

1. Approved Board of Directors report for the fiscal year ending 31/12/2016.

2. Approved Auditor's report on the standalone and consolidated financial statements for the fiscal year ending 31/12/2016.

3. Approved the Company's standalone and consolidated financial statements for the fiscal year ending on 31/12/2016.

4. Approved the proposed profit distribution, which comprises of a profit distribution to the shareholders in an amount of EGP 108,696,388 from the Company's profits for the fiscal year ending December 31, 2016, by way of a coupon of approx. EGP 0.15 (fifteen Piasters) for each share, and authorizing the Chairman and Managing Director or his delegate to set the date of payment of the cash coupon and to take all necessary procedures before all relevant authorities.

5. Approved discharging the members of the Board of Directors from their responsibilities for the fiscal year ending 31/12/2016.

6. Approved Board of Directors' allowance and remuneration for the fiscal year ending 31/12/2017 to be as follows:

· Attendance allowance of EGP 40,000 for each board member per board meeting.

· Attendance allowance of EGP 40,000 for each board member per meeting for the committees of the board.

7. The Ordinary General Meeting was informed that there are no related party transaction to be entered into, and that any related party transactions will be tabled at the shareholders meeting in order to authorize the board of directors to execute same.

8. Approved authorizing the Board of Directors to grant donations during the fiscal year ending 31/12/2017 of up to EGP 5 Million, and approved the donations granted during the fiscal year ending 31/12/2016 in the amount of EGP 1,520,000.

9. In view of the letter of excuse submitted by the Company's auditor Mr. Ahmed Gamal El Din El Atris (of PWC - Mansour & Partners), the Ordinary General Meeting resolved to accept his excuse and approved appointment of Mr. Ahmed Mohamed Fouad (of PWC - Mansour & Partners) as the Company's auditor for the fiscal year ending 31/12/2017, and determined his fees at EGP 623,000 for auditing the annual and periodic standalone and consolidated financial statements, and $30,000 for auditing the annual and periodic standalone and consolidated financial statements in accordance with IFRS.

10. In view of the letter received from Africa Samba BV providing its approval to have only one seat on the board of directors represented by Mr. Sherif Hesham Mohamed El Kholy and resignation of Mr. Richard Henry Phillips from the board of directors, and the letter received from Exoder Limited providing its approval to have only one seat on the board of directors represented by Mr. Spyridon Theodoropoulos and resignation of Ms. Maria Georgalou from the board of directors, and the letter received from Kingsway Fund regarding its representation on the board of directors with one seat to be represented by Mr. Jeffrey Peter Van Der Eems, the Ordinary General Meeting approved appointment of Mr. Jeffrey Peter Van Der Eems as board member representing Kingsway Fund. The Ordinary General Meeting further approved appointment of Mr. Mounir Fakhry Abdel Nour as independent board member.

Edita Food Industries SAE announces that the Extra-Ordinary General Meeting of the Company convened on Tuesday, March 28, 2017 and resolved the following resolution:

1. Approved amendment of Article 4 of the Articles of Association to add the additional manufacturing facility located at Plots (111, 108, 112, 113, 115 and 116) at Polaris El Zamil Industrial Zone - North Extension Zone - Sixth of October, Giza as follows:

Article 4 Before Amendment:

The headquarters and legal premises of the Company shall be Shaikh Zayed City - Sixth of October - Plot No (13) - Central Pivot - Giza.

The location at which its industrial activities shall be conducted is: Sixth of October City - Third Industrial Zone - Plots (19) and (21), as well as Plot (63) at the Polaris Industrial Zone - North Extension Zone - Sixth of October. The Company may set up branches, offices or agents in Egypt or abroad, with the exception of the governorates of North Sinai, South Sinai and East Qantara which require the prior approval of the authority, in accordance with Prime Ministerial Decree No. 350 of 2007 and Presidential Decree No. 356 of 2008.

Article 4 After Amendment:

The headquarters and legal premises of the Company shall be Shaikh Zayed City - Sixth of October - Plot No (13) - Central Pivot - Giza.

The location at which its industrial activities shall be conducted is: Sixth of October City - Third Industrial Zone - Plots (19) and (21), as well as Plot (63) at the Polaris Industrial Zone - North Extension Zone - Sixth of October, Giza. In addition to Plots (108, 111, 112, 113, 115 and 116) at Polaris El Zamil Industrial Zone - North Extension Zone - Sixth of October, Giza.

The Company may set up branches, offices or agents in Egypt or abroad, with the exception of the Sinai Peninsula which require the prior approval of the authority, in accordance with Prime Ministerial Decree No. 350 of 2007 and Presidential Decree No. 356 of 2008.

-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