Last checked at 3 Mar 2016 16:37
Orascom Telecom Media and Technology Holding S.A.E.
Established pursuant to the provisions of Law 95/1992
Head Office: twenty Sixth floor, Nile City Towers, South Tower,
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: (2) of 2016
3 March 2016
On Thursday March 3, 2016, at 2:30pm, the Board of Directors of the company convened at the company's premises under the chairmanship of Mr. Naguib Onsy Naguib Sawiris - Executive Chairman and Managing Director, upon his invitation, the meeting was attended by the members of the board, namely:
· Eng. Naguib Onsy Naguib Sawiris - Executive Chairman and Managing Director;
· Mr. Youssef Fayez Shoukry Moawad - Executive Board Member for Financial and Administrative Affairs in his own capacity and on behalf of Mr. Khaled Galal Guirgis Bichara - Non-Executive Board Member;
· H.E. Ambassador/ Mohamed Ibrahim Mahmoud Shaker Mohamed - Non-Executive Board Member;
· Eng. Akil Hamed Bashir - Non-Executive Deputy Chairman;
· Mr. Ayman Mohamed El Tayeb Soliman - Non-Executive Expert Board Member in his own capacity and on behalf of Mr. Iskandar Shalaby Naguib Rizk Shalaby - Non-Executive Board Member.
Mr. Oussama Daniel Nassif was appointed as Secretary of the meeting.
Eng. Tamer Mokhtar El Mahdi - Deputy CEO of the company attended the meeting.
Having reviewed and deliberated on the agenda, the Board of Directors has resolved the following:
Fist resolution: The board unanimously approved the financing through debit current accounts with a maximum of 924,000,000 EGP (only nine hundred and twenty four million Egyptian pounds) to Beltone Financial Holding S.A.E. in order to finalize the acquisition of 100% of the share capital of CI Capital Holding S.A.E., to be settled by Beltone Financial Holding S.A.E. in cash through its own financial resources or by issuing new shares through a capital increase of Beltone Financial Holding S.A.E. and delegating Eng. Naguib Onsi Naguib Sawiris, Executive Chairman and Managing Director, severally, and Mr. Youssef Fayez Shoukry Mouawad and Mr. Oussama Daniel Nassif Faltas jointly, to undertake all necessary actions and sign all required documents to give effect to this resolution.
Second resolution: The board unanimously approved allowing Orascom Telecom Ventures the cancellation of Arab Finance and the deduction of the asset value from the total consideration of the sale of the subsidiaries of Orascom Telecom Ventures after reviewing the related documents and Arab Finance's operations.
The Board of Directors delegated Mr. Oussama Daniel Nassif, Mr. Ibrahim Aly Ibrahim, Mr. Ashraf Zaki El Ibrachy, Mostafa Mohamed Gaber Mohamed El Shafei, Hatem Hasan Tolba Mohamed and Mostafa Saeed Ali Mohamed (advocates), to jointly or severally, take all the required procedures to ratify the minutes of this meeting at the Egyptian Financial Supervisory Authority, receive it and annotate all the afore-mentioned in the company's commercial register.
The meeting ended at 3:00 pm.
Head of Investor Relation
Marwan Mohamed Hussein