8 Sep 2014 09:06
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Telecom Egypt
An Egyptian Joint Stock Company
Resolutions of the ordinary General Meeting
Convened on Monday, 8th of September 2014
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Resolution No. 1
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The Ordinary General Assembly of Telecom Egypt held on Monday, 8 of September 2014, by unanimous vote of the Shareholders present and represented in the Meeting, approved the proposed interim dividends of 5 U.S Cent per ordinary share, under the account of profits for the financial year ended on December 31, 2014, according to the interim financial reports for the half year period ending June 30, 2014 as follows:
In LE 1,000 | Description |
1,133,899 | Net Profit for the year |
18,054 | Profit carried forward from the previous year |
1,151,953 | |
To be distributed as follows: | |
56,695 | Legal Reserve |
611,563 | Shareholders' share* |
67,951 | Employees' share* |
415,744 | Profit carried forward for the next year |
*According to the Central Bank of Egypt (CBE) exchange rate, on 6 August,2014, of 7.16505 EGP per US Dollar  Therefore, the interim cash dividend under the account of profits for the financial year ending on December 31,2014 per ordinary share shall be 0.05 U.S Dollars (i.e.:5 U.S Cent/ordinary share).  | |
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Chairman
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Eng. Omar El Sheikh
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Telecom Egypt S (TEEG)