Board of Directors meeting decisions 26 Feb 2019

Cairo, February 26 , 2019

Edita Food Industries SAE announces that the Board of Directors Meeting of the Company convened on Tuesday 26 February 2019 and unanimously resolved the following resolutions:

1. Approved the minutes of the previous board of directors meeting (no. 135) dated 20/12/2018.

2. Approved the Board of Directors' report for the Company's activities for the fiscal year ending on December 31, 2018, to be presented to the Ordinary General Assembly Meeting.

3. Approved the auditor's report on the standalone and consolidated financial statements of the Company in connection with fiscal year ending on December 31, 2018, to be presented to the Ordinary General Assembly Meeting for its approval. 

4. Approved the Company's consolidated and standalone statements for the fiscal year ending on December 31,2018, to be presented to the Ordinary General Assembly Meeting for its approval.

The Board of Directors has also unanimously approved the Company's balance sheet and profit and loss accounts, as well as the Board of Directors' report for the fiscal year ending December 31, 2018, to be presented to the Ordinary General Assembly Meeting for its approval.

5. Approved the proposal for distribution of dividends for the fiscal year ending on December 31, 2018, which entails distributing to the shareholders an amount of EGP 151 Million from the Company's profits for the fiscal year ending December 31, 2018, by way of a coupon of 0.208 for each share, to be presented to the ordinary general meeting for its approval.

6. Approved the calling the Ordinary General Assembly Meeting to convene on 27 March 2019, or on any other date deemed appropriate.

7. Approved the delegation of the Chairman and Managing Director to take the necessary procedures for calling the Ordinary General Assembly Meeting to convene and to include any additional agenda items.

8. Updated the Board of Directors on the Audit Committee Report.

9. The Board of Directors was updated on the status of the Morocco joint venture company which is now duly incorporated under the name of Edita Food Industries- Morocco SA, its shareholders being (i) Edita Participation Cyprus Ltd., owning 51%; (ii) Dislog Group, owning 45% and (iii) Technicia Middle-East Trading Company, owning 4%.

10. Approved to grant the Company's Chairman and Managing Director and the Chief Financial Officer jointly certain additional authorities.

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Contacts

Ms. Menna Shams El Din

Investor Relations and Business Development Senior DirectorT: +202 3851 6464 | M: +20 100 1542428 |  menna.shamseldin@edita.com.eg