Last checked at 28 Sep 2018 08:26
--- 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: (5) of 2018
26 September 2018
On Wednesday, 26 of September 2018 at 2:30 pm, the Company's Board of Directors meeting was held, under the chairmanship of Eng. Akil Beshir - Vice Chairman of the Board of Directors. The Board meeting was attended by the following members of the Board of Directors:
· Eng. Akil Hamed Bashir - Non-Executive Vice Chairman (independent);
· Eng. Tamer Mokhtar Ahmed El Mahdi - Managing Director in his own capacity and on behalf of Eng. Naguib Onsi Naguib Sawiris - Executive Chairman;
· Mr. Ayman Mohamed El Tayeb Soliman - Non-Executive Expert Board Member in his own capacity 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. Ashraf Abdel Tawab Abdel Razek Salman - Non-Executive Expert Board Member (independent);
· Mr. Mohamed Hamdan Mahmoud Ashmawy - Non-Executive board member (independent); and
· Mr. Oussama Daniel Nassif Faltas - Executive Board Member.
The Board of Directors took the following resolutions:
Fist resolution:
The independent Board members (the related and executive Board members abstaining) unanimously resolved to proceed with studying and negotiating the potential full acquisition of the share capital of Nile Sugar Company.
Second resolution:
The independent Board members (the related and executive Board members abstaining) unanimously resolved to appoint BDO Keys Financial Consulting as the IFA Firm to carry out the valuation of Nile Sugar and present an IFA valuation report to the Board of Directors in accordance with the EGX Listing Rules. Moreover, the independent Board members delegated the management to appoint a competent Legal Advisor to conduct a legal due diligence and present a legal opinion on the procedures of the acquisition of the entire share capital of Nile Sugar.
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