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EFG-Hermes Holdings (EFGD)

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Tuesday 23 April, 2019

EFG-Hermes Holdings

AGM summary of resolutions

RNS Number : 7086W
EFG-Hermes Holdings SAE
21 April 2019
 

TRANSLATION FROM ARABIC

Summary of Resolutions for the Annual General Meeting

EFG Hermes Holding S.A.E.

Held on April 21st, 2019

Resolution no.1

The AGM approved the Board of Directors' report on the company's activities for the financial year ended 31/12/2018.

Resolution no.2

The AGM approved the financial auditor's report on the financial statements for the fiscal year ended 31/12/2018.

Resolution no.3

The AGM ratified the financial statements for the fiscal year ended 31/12/2018.

Resolution no.4

The AGM approved the corporate governance report for the fiscal year ended 31/12/2018.

Resolution no.5

The AGM approved a cash distribution of EGP0.65 per share, according to the following dividend distribution table below:

Dividend Distribution Table

for the Fiscal Year ended 31/12/2018

(EGP)

Net profit for the year

595,276,806

Retained earnings on 1/1/2018

284,181,070

Profits appropriate for distribution

879,457,876

Legal reserve

29,763,840

Balance after legal reserve

849,694,036

First Distribution:


Shareholders' dividends

345,878,200

Employees portion

38,430,911

Balance after first distribution

465,384,924

BoD bonus*

18,120,385

Balance after BoD  bonus

447,264,539

Second Distribution:


Shareholders' dividends

153,732,645

Employees portion

17,080,405

Balance after second distribution

276,460,489

Retained earnings on 31/12/2018

276,460,489

Total Shareholders' dividends

499,601,845

*For non-executives' board members only

Resolution no.6

The AGM approved the discharge of the Board Members from all liabilities concerning the activities of fiscal year 2018 and ratified the changes that occurred to the Board throughout the year, as follows:

·     The resignation of Mr. Simon Eedle from his position as a board member representing DF EFG3 Limited (a subsidiary of Natixis S.A.).

·     The appointment of Mr. Timothy Collins and Ms. Elizabeth Crichley as members of the Board, representing RA MENA Holdings LLC and RA Holdings I LLC, for the remaining period of the current term of the Board of Directors (May 2020).

Resolution no.7

The AGM approved not to pay the Board of Directors transportation and attendance allowances for the fiscal year 2019, however the Company shall bear all actual travel and accommodation expenses.

Resolution no.8

The AGM approved the reappointment of the Company's financial auditor - Mr. Hatem Abdel Moneim Montasser of KPMG Hazem Hassan - for the fiscal year 2019 and delegated the Board of Directors to determine the fees.

Resolution no.9

The AGM ratified the donations for the fiscal year 2018 which totaled to EGP20,000,000; and authorized the Board to approve donations in excess of EGP1,000 during the fiscal year 2019.

 

 

 

 

 

 

For further information:

Investor Relations Department

Email: [email protected]

Tel: +20 (0)2 35356710

Fax: +20 (0)2 3535 7017

 

Head of Investor Relations - Hanzada Nessim

Email: [email protected]

Tel: +20 (0)2 35356502

Fax: +20(0)2 3535 7017

 

www.efg-hermes.com


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