Last checked at 11 Aug 2020 09:29
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 corniche 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. (4) of 2020
August 10, 2020
By Circulation
On this day, Monday, corresponding to August 10th 2020, the Board of Directors of Orascom Investment Holding S.A.E. (the "Company") convened by circulation under the chairmanship of Eng. Naguib Onsi Sawiris - the Chairman and Managing Director, pursuant to the invitation extended by him and attended by the following Directors:
· Eng. Naguib Onsi Sawiris- Chairman & Managing Director;
· Eng. Akil Hamed Bashir - Non-Executive Vice-Chairman (independent);
· Eng. Hassan Mostafa Abdo - Non-Executive Director;
· Eng. Iskandar Shalaby Naguib Rizk - Non-Executive Director;
· Dr. Sameh Youssef El Torgoman - Non-Executive Director;
· Mr. Ashraf Abdel Tawab Salman - Non-Executive Director (independent);
· Mr. Mohamed Hamdan Ashmawy - Non-Executive Director;
· Mr. Oussama Daniel Nassif - Executive Director.
Mr. Mostafa Mamdouh Abdel Razik was appointed as the Secretary of the Board.
The Board of Directors unanimously resolved:
First resolution: Ratification of the pro-forma financial statements for the financial year ended on 31/12/2018 and re-ratification of the pro-forma financial statements for the financial year ended 31/12/2019, which was presented to the Board held on 26/07/2020 as part of the demerger documents of Orascom Investment Holding S.A.E. (the "Demerged Company") and Orascom Financial Holding S.A.E. (the "Demerging Company").
Second resolution: Approval of the Auditor's report on the pro-forma financial statements for the financial year ended on 31/12/2018 and the financial year ended on 31/12/2019 for the Demerged Company and the Demerging Company.
Third resolution: Present to the Extraordinary General Assembly the pro-forma financial statements and the Auditor's report for the financial year ended on 31/12/2018 and the financial year ended on 31/12/2019 for the Demerged Company and the Demerging Company to review the detailed demerger draft.
Fourth resolution: Present to the Extraordinary General Assembly of the Company the ancillary documents of the detailed demerger draft in accordance with Article 3 amended by the Financial Regulatory Authority's decree no. 124 for 2010 to review the detailed demerger draft.
Fifth resolution: Recommend to the Extraordinary General Assembly to authorize the Company's Board of Directors to ratify the draft articles of association of the Demerging Company and the draft amendment of the articles of association of the Demerged Company and incorporate the amendments requested by the competent authority.
Sixth resolution: Recommend to the Extraordinary General Assembly to authorize the Company's Board of Directors to approve the final valuation report issued by the General Authority for Investment's Economic Performance Sector with the net equity value of the Demerged Company and the Demerging Company and to incorporate any amendments to the detailed demerger draft and the demerger project. Moreover, authorize the Board of Directors to take any decisions or actions pertaining to the demerger process.
Investor Relations Director
Marwan Mohamed Hussein