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EFG Hermes S.A.E. Board of Directors convened on April 6, 2022, and approved a proposed increase of the company's issued capital from EGP4,865,353,355 to EGP5,838,424,030. This EGP973,070,675 increase is through the distribution of one bonus share for every five shares held, financed from retained earnings as of December 31, 2021. The Board also approved the capital increase disclosure form and authorized the Chairperson to invite relevant General Assemblies for further approvals and amendments.
| Date | 7 Apr 2022 |
| Time | 08:34:20 |
| Category | AGMs and other meetings |
| ID | 6191H |
Summary of Resolutions for the Board of Directors Meeting Held on 06/04/2022
Cairo, April 7th, 2022: EFG Hermes S.A.E. Board of Directors convened on Wednesday 6/4/2022 at 3:00 p.m. (CLT) and:
1. Approved the proposed increase of the company's issued capital at par value from EGP4,865,353,355 to EGP5,838,424,030; which represents an increase of EGP973,070,675 through the distribution of (1) bonus share for every (5) shares held by each shareholder. The increase shall be financed from the retained earnings account as presented in the financial statements for the year ended 31/12/2021;
2. Approved the capital increase disclosure form prepared in accordance with Article (48) of EGX Listing Rules, and authorized the Company's Chairperson to introduce any changes required by the Financial Regulatory Authority "FRA" in this regard;
3. Authorized the Chairperson to invite the Company's Ordinary General Assembly to approve the proposed capital increase and the amendment of articles 6 & 7 of the Company's Articles of Association accordingly after the approval of the disclosure form by the FRA;
4. Authorized the Chairperson to invite the Company's Extraordinary General Assembly to amend article 5 of the Company's Articles of Association with regards to the Company's legal term.
For further information:
Investor Relations Department
Email: [email protected]
Tel: +20 (0)2 35356710
Fax: +20 (0)2 3535 7017
Head of IR, Budgeting and Reporting - Hanzada Nessim
Email: [email protected]
Tel: +20 (0)2 35356502
Fax: +20(0)2 3535 7017
www.efg-hermes.com