Last checked at 15 Aug 2018 08:16
Orascom Investment Holding S.A.E.
Established pursuant to the provisions of Law 95/1992
Head Office: Nile City Towers, South Tower, 29 Floor,
2005 A Croniche El Nile, Ramlet Beaulac, 11221, Cairo, Egypt
Authorized Capital: EGP 22 Billion
Issued Capital:
EGP: 2,203,190,060.40
(Fully paid)
Number of Issued Shares:
5,245,690,620
Commercial registration number: 394061 Cairo
Summary of Board of Directors Resolutions
No: (3) of 2018
14 August 2018
On Tuesday, 14 of August 2018 at 2:30 pm, the Company's Board of Directors meeting was held, under the chairmanship of Eng. Akil Hamed Bashir - Non-Executive Deputy Chairman upon the invitation of the Chairman. The Board meeting was attended by the following members of the Board of Directors:
· Eng. Akil Hamed Bashir - Non-Executive Deputy Chairman (independent) and on behalf of Eng. Naguib Onsi Naguib Sawiris - Executive Chairman;
· Eng. Tamer Mokhtar Ahmed El Mahdi - Managing Director;
· Mr. Ayman Mohamed El Tayeb Soliman - Non-Executive Expert Board Member and on behalf of Eng. Iskandar Shalaby Naguib Rizk Shalaby - Non-Executive Board Member;
· Dr. Sameh Youssef El Torgoman - Non-Executive Expert Board Member;
· Mr. Oussama Daniel Nassif Faltas - Executive Board Member and on behalf of Mr. Ashraf Abdel Tawab Abdel Razek Salman - Non-Executive Expert Board Member (independent); and
· Mr. Mohamed Hamdan Mahmoud Ashmawy - Non-Executive board member.
The Board of Directors has decided the following:
Fist resolution: The Board of Directors unanimously approved the Audit Committee's report on the standalone and consolidated financial statements for the financial period starting at 1/1/2018 and ending at 30/6/2018.
Second resolution: The Board of Directors unanimously approved the Auditor's Report on the standalone and consolidated financial statements for the financial period starting at 1/1/2018 and ending at 30/6/2018.
Third Resolution: The Board of Directors unanimously ratified the Board of Directors' Report on the standalone and consolidated financial statements for the financial period starting at 1/1/2018 and ending at 30/6/2018, as well as the outcome of the business for such period.
Fourth resolution: The Board of Directors unanimously ratified the standalone and consolidated financial statements for the financial period starting at 1/1/2018 and ending at 30/6/2018, as well as the outcome of the business for such period.
Fifth resolution: The Board of Directors approved the appointment of Mr. Mohamed Hamdan Mahmoud Ashmawy as a member of the Audit Committee, so that the Audit Committee shall have the following structure:
1. Akil Hamed Bashir - Committee Chairman;
2. Iskandar Shalaby Naguib - Committee Member;
3. Ashraf Abdel Tawab Abdel Razek Salman - Committee Member; and
4. Mohamed Hamdan Mahmoud Ashmawy - Committee Member.
The Board of Directors delegated Mr. Mostafa Mamdouh Abdel Razek, Mr. Sherif Maher Samy, Mr. Gamal Gamil El Sayed Mahmoud, Mr. Ashraf Hassan Zaki Elibrachy, Mr. Mostafa Mohamed Gaber Mohamed Elshafei, Mr. Hatem Hassan Tolba Mohamed and Mr. Mostafa Said Aly Mohamed jointly or severally to undertake all required procedures to ratify and receive these minutes from the Egyptian Financial Supervisory Authority, receive it and annotate all the afore-mentioned in the company's commercial register.
Head of Investor Relation
Marwan Mohamed Hussein