Orascom Investment Holding S.A.E.
Established pursuant to the provisions of Law 95/1992
Head Office: Nile City Towers, South Tower,
2005 A Croniche El Nile, Ramlet Beaulac, 11221, Cairo, Egypt
Authorized Capital: EGP 22 Billion
Issued Capital:
EGP: 2,203,190,060.40
(Fully paid)
Number of Issued Shares:
5,245,690,620
Commercial registration number: 394061 Cairo
Summary of the Resolutions of the
Extraordinary General Assembly Meeting
Held on Monday 19 August 2019 at 3:30 pm
at Conrad Cairo Hotel - Salon Diplomat - 1191 corniche El Nile, Beaulac, Cairo, Egypt.
On Monday, August 19, 2019, at 3:30 pm the Extraordinary General Assembly Meeting of the shareholders of the Company convened under the chairmanship of Eng. Akil Hamed Bashir - Non-executive Vice Chairman. The meeting was attended by the following Board members:
· Eng. Akil Hamed Bashir - Non-executive Vice Chairman;
· Mr. Ayman el Tayeb Soliman - Non-executive Expert Board Member;
· Mr. Ashraf Abdel Tawab Salman - Non-executive Expert Board Member;
· Mr. Mohamed Hamdan Ashmawy - Non-executive Board Member.
The Auditor: Mr. Mohamed Hassan (KPMG)- the Company's Auditor attended the Meeting.
The Extraordinary General Assembly resolved by majority to appoint the following:
Mr. Moustafa Mamdouh Abdel Razek as Secretary of the Meeting; and
Mr. Sherif Maher and Ms. Salma Labib Omar as vote scrutineers.
The total numbers of shares represented in the meeting amounts to approx. 58 % of the total share capital of the Company. Accordingly, the legal quorum for the meeting is satisfied and the Chairman of the meeting announced its validity.
The Extraordinary General Assembly resolved the following:
First Resolution: The Shareholders resolved by majority to approve the amendment of articles (21) and (46) of the Articles of Association of the Company to adopt the accumulative voting system in the Board of Directors elections whenever possible.
Second Resolution: The Shareholders resolved by majority to approve and ratify the Employee Stock Option Plan (ESOP) through issuing free shares to the employees, directors and executive Board members of the Company and delegate the management of the Company in this regard. The shareholders further resolved to approve the standard allocation agreement to be entered into with the beneficiaries of the ESOP.
The meeting ended at 4:00 pm.
Head of Investor Relations
Marwan Hussein
