Last checked at 31 Mar 2010 16:31
Telecom Egypt
An Egyptian Joint Stock Company
Resolutions of the Extraordinary General Assembly
Convened on Wednesday, March 31, 2010 at 1 p.m.
Resolution No. 1
The Extraordinary General Assembly of Telecom Egypt convened on Wednesday, March 31, 2010, by unanimous vote of the shareholders present and represented at the Meeting, approved the amendment of Article 35 of the Statutes of the Company as follows:
Article 35 Prior to Amendment:
"The Board of Directors shall form Audit, Remuneration and Incentives, and Investment Committees, provided that at least two Independent Directors shall be appointed in the Audit and the Remuneration and Incentives Committees and at least one Independent Director shall be appointed in the Investment Committee."
Article 35 Following Amendment:
"The Board of Directors shall form Audit, Remuneration and Incentives, and Investment Committees, whereby each of those Committees shall include at least one Independent Director as defined in Article 21 of the Statutes and whereby the composition of the Audit Committee shall include not less than three Non-Executive Directors in accordance with the Stock Exchange Listing Rules who have experience in the field of business of the Company and in the event the Company does not have a sufficient number of members, the Board may complete the Committees' membership from outside the Company from those who have fulfill the experience requirement with due consideration to the fact the member of the Audit Committee may not be a member of any other committees of the Board of Directors and one of the members of the Committee must have experience in financial affairs."
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Chairman
Akil Hamed Beshir