Resolutions for Extraordinary General Meeting

EZZ Steel Company - S.A.E.

28 January 2025

 

EZZ Steel Company - S.A.E.

Cairo, 28 January 2025 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD)

An Extraordinary General Assembly meeting (EGM) of the Company was convened on 28 January 2025 and resolved the following:

1-   Certifying the fair value study prepared by the independent financial advisor (IFA), BDO Keys for Financial Consultancy on Securities (S.A.E.), and the auditor's report thereon, at a price of EGP 138.15 per share.

2-   Approving the voluntary delisting of the Company's shares from the Egyptian Stock Exchange (EGX) and the purchase of shares from objecting shareholders or from shareholders unwilling to remain with the Company after delisting, as well as the purchase of the shares underlying the Global Depositary Receipts (GDRs) listed on the London Stock Exchange (LSE) - in accordance with the provisions of Article (55) of the EGX Listing & Delisting Rules - at a price of EGP 138.15 per share, as stated in the report of the IFA (BDO), which was disclosed on 13 January 2025, on the screens of the EGX and LSE.

3-   Opening a temporary account named "voluntary delisting shares account" with the sole purpose of executing the purchase of shares from objecting shareholders, to be funded by the Company or guaranteed by a third party in accordance with Article (55) of the EGX Listing & Delisting Rules.

4-   Authorizing the Chairman & Managing Director, or his delegate, to complete all necessary procedures for implementing the voluntary delisting from the EGX and LSE listings, purchasing the shares from the objecting shareholders, pledgee creditors and offering shareholders, and representing the Company before the FRA, the General Authority for Investment and Free Zones (GAFI), and all other governmental and non-governmental entities.

 Investor Relations

 

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