EGM minutes

Edita Food Industries S.A.E.

27 November 2023

 

Edita Food Industries S.A.E- Summary of Resolutions of the Extraordinary General Assembly Meeting of the company convened on Sunday 26 November 2023

Cairo, 26 November 2023

Edita Food Industries SAE ("the Company") announces that the Extraordinary General Assembly Meeting of the Company convened on Sunday 26 November 2023 and resolved the following resolutions by majority:

1.    Approved the amendment of the objective of the company and accordingly amend Article (3) of the company's articles of association to read as follows:

Article (3) before amendment:

The objective of the company shall be:

Producing, manufacturing, packaging and wrapping all food products and manufacturing, producing and packaging juices, jams, finished goods and finished dry meals made of dough and manufactured with flour, dairy products, meat, vegetables, fruits, chocolate, natural and vegan cream as well as other required food and ingredients.

The company may carry out other projects or amend its objective in accordance with the provisions of the investment law subject to the approval of the General Authority for Investment and Free Zones and without prejudice to the provisions of the laws of the Arab Republic of Egypt, the Company may as well engage or cooperate in any manner whatsoever with different companies regardless their forms.

Article (3) after amendment:

The objective of the company shall be:

Producing, manufacturing, packaging and wrapping all food products and manufacturing, producing and packaging juices, jams, finished goods and finished dry meals made of dough and manufactured with flour, dairy products, meat, vegetables, fruits, chocolate, natural and

 vegan cream as well as other required food and ingredients. The company may carry out toll manufacturing.

The company may carry out other projects or amend its objective in accordance with the provisions of the investment law subject to the approval of the General Authority for Investment and Free Zones and without prejudice to the provisions of the laws of the Arab Republic of Egypt, the Company may as well engage or cooperate in any manner whatsoever with different companies regardless their forms.

2.    Approved the reduction of the capital of the Company from EGP 144,611,687.8 (one hundred forty-four million six hundred eleven thousand six hundred eighty-seven Egyptian pounds and eighty piasters) to EGP 140,002,731.2 (one hundred forty million two thousand seven hundred thirty-one Egyptian pounds and twenty piasters) by way of Cancelling treasury shares of the company in the total of 23,044,783 (twenty-three million forty-four thousand seven hundred eighty-three) shares, each with par value of 0.20 piasters.

3.    Approved the amendment of  Articles (6) and (7) of the articles of association of the Company accordingly to be as follows:

Article (6) before amendment:

The Company's authorized capital amounts to EGP 360,000,000 (Only Three Hundred Sixty Million Egyptian pounds), and the issued capital shall amount to EGP 144,611,687.80 (Only One Hundred Forty-Four Million Six Hundred Eleven Thousand Six Hundred Eighty-Seven Egyptian pounds and Eighty piasters); divided into 723,058,439 shares; the value of each share is EGP 0.20 (twenty piasters); all of which are cash shares.

Article (6) after amendment:

The Company's authorized capital amounts to EGP 360,000,000 (Only Three Hundred Sixty Million Egyptian pounds), and the issued capital shall amount to EGP 140,002,731.20 (Only One Hundred Forty-Four Million Two Thousand Seven Hundred Thirty-One Egyptian pounds and twenty piasters); divided into 700,013,656 shares; the value of each share is EGP 0.20 (twenty piasters); all of which are cash shares.

Article (7) before amendment:

The capital of the company is 723,058,439 shares (seven hundred twenty-three million fifty-eight thousand four hundred thirty-nine shares) and all the shares of the company are nominal shares. The subscription to the capital has been carried out

The company's issued capital has been paid by virtue of the annotation at the commercial register. The company's issued capital has been decreased by an amount of EGP 460,892.2, by cancelling the treasury shares at nominal value, amounting to 2,304,461 shares, pursuant to the report No. 1591/2021 issued by the Economic Performance Department based on the company's financial position on 31/12/2021 and accordingly the company's issued share capital, after the decrease, shall be EGP 144,661,687.8 paid in full.

Article (7) after amendment:

The capital of the company is 700,013,656 shares (seven hundred million thirteen thousand six hundred fifty-six shares) and all the shares of the company are nominal shares. The subscription to the capital has been carried out.

The company's issued capital has been paid by virtue of the annotation at the commercial register. The company's issued capital has been decreased by an amount of EGP 4,608,956.6, by cancelling the treasury shares at nominal value, amounting to 23,044,783 shares, pursuant to the report No. 2486 of 2023 issued by the Economic Performance Department based on the company's financial position on 30 June 2023 and accordingly the company's issued share capital, after the decrease, shall be EGP 140,002,731.2 paid in full.

Ends

Contacts

Ms. Menna Shams El Din

Head of Investor Relations and Corporate Affairs

T: [phone] | M: [phone] |  [e-mail]

 

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