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7 Jul 2008 09:43
Telecom Egypt
An Egyptian Joint Stock Company
Minutes of the Extraordinary General Assembly
Convened on Sunday, July 6, 2008 at 12 p.m.
Amended version - please note alteration to Resolution No. 2
Resolution No. 1
The Extraordinary General Assembly of Telecom Egypt, which convened on Sunday, July 6, 2008, by unanimous vote of the shareholders present and represented at the Meeting, approved the re-appointment of the Chief Executive Officer for another subsequent one year term as of August 13, 2008, in accordance with Article 25 of the Statutes of the Company.
Resolution No. 2
The Extraordinary General Assembly of Telecom Egypt, which convened on Sunday, July 6, 2008, by unanimous vote of the shareholders present and represented at the Meeting, approved the amendment of Article 43 of the Statutes of the Company, as follows:
(Article 43)
Before Amendment
The General Assembly shall represent all shareholders and shall only be convened in the City of Cairo or Giza.
(Article 43)
After Amendment
The General Assembly shall represent all shareholders and shall only be convened in the City of Cairo or 6th of October City.
Chairman and Chief Executive Officer
Akil Hamed Beshir
For further information:
Ahmed Fathallah Alia A. Allouba
Director of Investment, Financial Planning & IR Investor Relations Manager
Tel: +2 02 31316699 Tel: +2 02 31315217
Fax: +2 02 31316115 Fax: +2 02 31316116
E-mail: investor.relations@telecomegypt.com.eg
Notes to Editors:
Within this statement, we may make forward-looking statements regarding future events or the future performance of the Company. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. When relying on forward-looking statements, you should carefully consider the political, economic, social and legal environment in which Telecom Egypt operates. Such forward-looking statements speak only as of the time of this release today. Accordingly, Telecom Egypt does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise other than as required by applicable laws, the Listing Rules or Prospectus Rules of the United Kingdom Listing Authority, the Egyptian Capital Markets Authority or the Cairo and Alexandria Stock Exchange. The documents filed from time to time with these authorities may identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.
About Telecom Egypt
Telecom Egypt (TE), Egypt's incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization (ARENTO). The Company is the largest provider of fixed-line services in the Middle East and Africa with 11.23 million subscribers as at the end of December 2007.
TE provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Telecom Egypt's services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.
TE currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.79% holding in Vodafone Egypt, one of the three existing Egyptian mobile operators.
TE's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on the Cairo and Alexandria Stock Exchanges and the London Stock Exchange.
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