Edita Food Regs Regulatory News (EFID)

Cairo, 6 May 2015

The Board of Directors in its meetings on May 5, 2015, unanimously resolved the following:

1. Approved the minutes of the previous Board of Directors Meeting (No. 99) dated April 14, 2015.

2. Approved the draft financial statements for the first quarter and the text provided and authorized the Chairman and Managing Director to sign the audited financial statements, provided that it is consistent with the draft provided[1].

3. Approved the updated Budget for 2015 as presented at the meeting.

4. The Chairman and Managing Director updated the Board of Directors of the status of the entry into the 2 agreements with Hostess Brands LLC, and that the agreements have been signed by the Chairman and Managing Director on behalf of the Company on April 16, 2015.

5. Approved to authorize the Chairman and Managing Director to take all necessary actions to select a plot of land appropriate to the Company, and take all necessary procedures and move forward with the purchase.

6. The Board of Directors was updated by the Chairperson of the Audit Committee as to the Audit Committee findings from its meeting earlier in the day, and accordingly the Board of Directors was informed of its content.

7. Approved to proceed with obtaining the funding necessary to finance new production lines, for a value of up to EGP 175 Million, for a tenor of up to 7 years (including the grace period), and authorized Eng. Hani Berzi and/or Mr. Sherif Fathy, severally, in negotiating with the banks to obtain a medium term loan of up to EGP 175 million, and to sign all agreements and take all necessary procedures and sign all documents in this regard, including but not limited to facility agreements with any banks, whether in Egypt or abroad.

8. Approved the sale of 52 Company trailers and a Company car.

-Ends-

Contact

Ms. Dina Al-SonbatyVice-President (Investor Relations and Corporate Affairs)T: +202 3851 6464 | M: +2012 2 218 7052 | dina.sonbaty@edita.com.eg