Invitation to CIB OrdinaryGeneral Assembly Meeting

RNS Number : 4060R

Commercial Intnl Bank (Egypt) SAE

08 March 2021

 

Commercial International Bank (Egypt) S.A.E.

Authorized Capital:  EGP 50 Billion

Issued and Paid-in Capital: EGP 14,776,813,400 

Head Office: Nile Tower Building

21/23 Charles de Gaulle St., Giza,

C.R. 69826 Giza

Invitation to the Ordinary General Assembly

The Bank's Board of Directors cordially invites the shareholders to attend the Ordinary General Assembly to be held Tuesday, March 30, 2021 at 02:30pm at the Bank's premises in the Financial District, Smart Village, Zone F10, Building B-2019, (Km 28 Cairo-Alex. Desert Road).

In view of the current exceptional circumstances related to the current Coronavirus pandemic, and in line with the government precautionary measures for social distancing, and in accordance to the General Investment Authority and Free Zones Decree 160 dated March 18, 2020, the General Assembly will be held and participated in by virtual means, using E-magles platform. Shareholders are to attend the assembly via video conference, which is considered an authentic attendance, and can vote electronically on the items of the agenda.  For attendance and voting purposes, please use the following link or the QR code below:

rebrand.ly/cibbank

Voting shall commence five days before the meeting, starting Tuesday, March 23, 2021.  Blocking shares certificates, powers of attorney, and attendance authorizations are to be sent to the same link above. 

The General Assembly Agenda :

The Assembly shall meet to deliberate and decide withp respect to the following items:

(1)  Endorse: (A) the Board of Directors' Report for the financial year ended 31/12/2020, (B) and the Governance Report with its associated Auditors' Report. And (C) shareholders' questions and requests.

(2)  Endorse the Auditors' Report on the standalone and consolidated financial statements for the year ended 31/12/2020.

(3)  Endorse the standalone and consolidated financial statements for the year ended 31/12/2020.

(4)  Endorse the Appropriation Account for the financial year ended 31/12/2020 and delegate the Board to set and approve the guidelines for the staff profit share distribution.

(5)  Endorse the changes to the Board of Directors' composition done during 2020 and up to the date of the General Assembly.

(6)  Discharge the Directors of the Board from their obligations and responsibilities for the financial year ended 31/12/2020.

(7)  Determine Directors' annual allowance and remuneration for attending the board and its sub-committees' meetings for the financial year 2021.

(8)  Appoint the External Auditors for the financial year ending 31/12/2021 and determine their fees.

(9)  Authorize the Board of Directors to effect donations exceeding EGP 1000 during the financial year 2021 and endorse donations made during the financial year 2020.

(10)  Authorize the Non-executive Directors of the Board to assume full time jobs in other shareholding companies.

Please note the following:

First :   Each shareholder is entitled to attend the General Assembly meeting in person or by a power of attorney or written authorization to another shareholder, other than CIB's Board Members.  Except for juristic individuals, any shareholder is not entitled to represent in the form of proxies more than 10% of the total Bank shares and 20% of the shares represented at the Meeting.

Second:     For attendance purposes, each shareholder is requested to present a certificate accompanied by statement of shares issued by an authorized bookkeeper confirming blocking of shares at least three days prior the meeting date.

Third :   Detailed statements and documents - as stipulated in articles 219, 220, and 221 of the Executive Regulations of Law No. 159/1981 -  will be available at the Bank's Financial Controls Department, Head Office, during the Bank's official working hours for the perusal of all shareholders.

Fourth :     Any inquiry concerning the items listed in the General Assembly Agenda should be addressed in writing to the Bank's Financial Controls Department, Head Office, via registered mail or hand delivered against a receipt, at least three days prior the Assembly date.  Only items pertaining to the stated agenda shall be discussed during the meetings.

Fifth:   The resolutions of the Ordinary General Assembly shall be issued by the absolute majority of the shareholders' votes represented in the meeting without prejudice to any other voting requirements stipulated in the relevant regulations.

Sixth :  If the legal quorum of the Ordinary General Assembly is not attained, a second meeting will take place Wednesday, March 31^st, 2021 at 2:30 pm at the same venue.  The second meeting of the Ordinary General Assembly shall be considered valid regardless of the number of shares represented therein.

Chairman of the Board

Sherif Samy

http://www.rns-pdf.londonstockexchange.com/rns/4060R_1-2021-3-7.pdf  

 

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