Resolutions of EGM on 18/1/2025

EZZ Steel Company - S.A.E.

19 January 2025

 

EZZ Steel Company - S.A.E.

Cairo, 18 January 2025 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD)

The resolutions of the Company's Extraordinary General Assembly meeting held on 18 January 2025 are as follows:

1-   Approving for Ezz Steel to issue guarantees in favor of its subsidiaries, sister and related companies, up to a maximum of USD 500 million (five hundred million US Dollars) or the equivalent in Egyptian pounds. These guarantees shall be in the favor of banks, finance and leasing companies inside and/or outside Egypt, to comply with terms, conditions and undertakings required for these companies to obtain loans and facilities; the previous approvals to issue guarantees will continue to prevail.

2-   Approving the authorization of Mr. Hassan Nouh, Chairman and Managing Director, or whoever he delegates, to sign the guarantees contracts, all documents related to them, and the undertakings of the guarantor, Ezz Steel Company, their appendices and amendments, including approving arbitration clauses if any.

Investor Relations

 

END