27 Apr 2017 09:01
TRANSLATION FROM ARABIC
Summary of Resolutions for the Annual General Meeting
EFG Hermes Holding S.A.E.
Held on April 27th, 2017
Resolution no.1
The AGM approved the Board of Directors' report on the consolidated financial statements for the financial year ended 31/12/2016.
Resolution no.2
The AGM approved the financial auditor's report on the financial statements for the fiscal year ended 31/12/2016.
Resolution no.3
The AGM ratified the financial statements for the fiscal year ended 31/12/2016.
Resolution no.4
The AGM approved a cash distribution of EGP2.75 per share, according to the following dividend distribution table below:
Dividend Distribution Table for the Fiscal Year ended 31/12/2016 (EGP) | |
Net profit for the year | 2,015,281,287 |
Retained loss on 1/1/2016 | (31,340,158) |
Profits appropriate for distribution | 1,983,941,129 |
Legal reserve | 13,525,195 |
Balance after legal reserve | 1,970,415,934 |
First Distribution: |
|
Shareholders' dividends | 276,702,560 |
Employees portion | 30,744,729 |
Balance after first distribution | 1,662,968,645 |
BoD bonus* | 19,800,000 |
Balance after BoD bonus | 1,643,168,645 |
Second Distribution: |
|
Shareholders' dividends | 1,414,257,529 |
Employees portion | 41,564,402 |
Balance after second distribution | 187,346,714 |
Retained earnings on 31/12/2016 | 187,346,714 |
*For non-executives board members only
Resolution no.5
The AGM approved the discharge of the Board Members from all liabilities concerning the activities of fiscal year 2016 and ratified the changes that occurred to the Board throughout the year, as follows:
· The appointment of Mr. Jean Cheval and Mr. Simon Eedle as Natixis S.A. representatives on the company's Board of Directors of EFG Hermes instead of Mr. Joseph Iskandar and Mr. Jonathan Andrew Cimino; this comes after Dubai Financial Group sold its entire stake in "DF EFG3 LIMITED", which owns 11.8% of EFG Hermes's shares, to Natixis S.A.
Resolution no.6
The AGM approved the re-appointment and new appointments of Board of Directors members for a three year-term. The new Board of Directors will be as follows:
| Name | Title | Executive/Non-Executive |
1- | Mona Zulficar | Chairperson | Non-Executive |
2- | Karim Awad | CEO and Board Member | Executive |
3- | Jean Cheval (Natixis S.A. representative) | Board Member | Non-Executive |
4- | Simon Eedle (Natixis S.A. representative) | Board Member | Non-Executive |
5- | Yasser El Mallawany | Board Member | Non-Executive |
6- | Takis Arapoglu | Board Member | Non-Executive |
7- | Marwan Al Araby | Board Member | Non-Executive |
8- | Zubyr Soomro | Board Member | Non-Executive |
9- | Abdulla Al Mutawa | Board Member | Non-Executive |
10- | Khalid Al Otaiba | Board Member | Non-Executive |
11- | Ramsay Zaki | Board Member | Non-Executive |
Resolution no.7
The AGM approved not to pay the Board of Directors transportation and attendance allowances for the fiscal year 2017, however the Company shall bear all actual travel and accommodation expenses.
Resolution no.8
The AGM approved the appointment of the Company's financial auditor - Mr. Hatem Abdel Moneim Montasser of KPMG Hazem Hassan - for the fiscal year 2017 and delegated the Board of Directors to determine the fees.
Resolution no.9
The AGM ratified the donations for the fiscal year 2016 which totaled to EGP2,000,000; and authorized the Board to approve donations in excess of EGP1,000 during the fiscal year 2017.
For further information:
Investor Relations Department
Email: investor-relations@efg-hermes.com
Tel: +20 (0)2 35356710
Fax: +20 (0)2 3535 7017
Head of Investor Relations - Hanzada Nessim
Email: hnessim@efg-hermes.com
Tel: +20 (0)2 35356502
Fax: +20(0)2 3535 7017
www.efg-hermes.com
Efg-hold.gdr S (EFGD)