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Treasury shares

2 Aug 2022 14:21

RNS Number : 6604U
Edita Food Industries S.A.E.
02 August 2022
 

 

Edita Food Industries - Summary of Resolutions of the Board of Directors Meeting of the company convened on Tuesday, August 2, 2022

Cairo, August 2nd 2022

Edita Food Industries SAE announces that the Board of Directors Meeting of the company convened on Tuesday, August 2, 2022 and unanimously resolved the following resolutions:

1. Approved the minutes of the previous Board of Directors (no. 161) dated on 15/5/2022.

2. Approved the purchase of 36,152,921 shares, which is equal to 5% of the total outstanding shares of the company as treasury shares to: (i) showcase to investors the company's confidence in the stock's fundamentals, (ii) support the trade of the company's share on the premise that such will ultimately deliver strong returns once the crisis resolves.

The Board of Director also delegated the Chairman and the Managing Director in taking all necessary procedures to execute the Purchase of treasury shares, including signing on the Purchase orders and determining the Purchase price pursuant to the trading price of each trading session.

3. Approved appointing Financial Brokerage Group S.A.E to act as the broker executing the transaction related to the Purchase of treasury shares.

 

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Contacts

Ms. Menna Shams El Din

Head of Investor Relations and Corporate AffairsT: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg

 

 

 

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