Edita's Board Resolutions dated 14 October 2024

Edita Food Industries S.A.E.

14 October 2024

 

Edita Food Industries - Summary of Resolutions of the Board of Directors Meeting of the company convened on Monday dated 14 October 2024

Giza, 14 October 2024

Edita Food Industries S.A.E. ("the Company") announces that the Board of Directors Meeting of the Company convened on Monday dated 14 October 2024 and unanimously resolved the following resolutions:

1)   Approved the minutes of the previous Board of Directors Meeting No. (189) dated 13/08/2024.

2)   Approved the sale of used spare parts which are owned by Edita food industries S.A.E to Edita Food Industries Morocco S.A in exchange of an amount of EGP 419,960 in addition to delegating the Chairman of Board of Directors or any person he authorizes to take all the necessary procedures and sign the final contracts and take all necessary procedures to finalize this matter as well as representing the Company before all governmental authorities and third parties.

3)   Approved the proposed profit distribution list including the distribution of part of the profits of the company for the financial year ending on 31/12/2023 which entails distributing to the shareholders an amount equal to EGP EGP 400,000,000 by way of cash coupon and decided to present it to the OGM for its approval in its next meeting.

4)   Approved to call for the OGM and delegating the Chairman of the company in determining the place and method of convening the meeting and amending the date of meeting, as the case may be, to consider the following agenda:

1.    Electing a non-executive Independent Board Member and determining his allowances and remuneration for the fiscal year ending on 31/12/2024.

2.    Consider approving the proposed profit distribution list including the distribution of part of the profits of the company for the financial year ending on 31/12/2023.

3.    Consider the approval of granting a corporate guarantee by Edita Food Industries S.A.E to Edita for Trade and Distribution S.A.E, Edita Confectionary Industries S.A.E and Edita Frozen Food Industries S.A.E.

4.    Consider approving the delegation of the Board of Directors to conclude new related party agreements during the financial year ending on 31/12/2024. 

5)   Approved the delegation of the Chairman to take the necessary procedures for calling the OGM to convene and to include any additional agenda items.

6)   The Board of Directors has been updated with the remuneration committee report.

-Ends

Contacts

Ms. Menna Shams El Din

Chief Investment Officer & Corporate Affairs

T: [phone] | M: [phone] |  [e-mail]

 

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