Edita's OGM Resolutions

Edita Food Industries S.A.E.

07 November 2024

 

Edita Food Industries - Summary of Resolutions of the Ordinary General Assembly Meeting of the company convened on Wednesday dated 06/11/2024

Giza, 06/11/2024

Edita Food Industries SAE ("the Company") announces that the Ordinary General Assembly Meeting of the Company convened on 06/11/2024 and resolved the following resolutions by majority:

1.  Update the General Assembly of the resolutions of the Board of Directors convened on Tuesday dated 30/07/2024 including the resignation of Mr. Hassan Mohamed Hassan Elkhatib from the Board of Directors as well as the Board of Directors' committees, accordingly, the discharge of Mr. Hassan Mohamed Hassan Elkhatib's liabilities for the financial year ending on 31/12/2024 was approved.

Approval of the election of a non-executive independent Board Member through cumulative voting and specifying his capacities as follows:

#	Name	Capacity	Entity of Representation
1.	Mr. Ahmed Farouk Hamed Ghoneim	Board Member	Independent

Approval of granting the same remuneration and allowances of the Board of Directors as well as the Committees of the Board of Directors for the financial year ending on 31/12/2024 to the elected Board Member, which amounts to EGP 1,250,000 for each Board Member including the remuneration and the allowances regarding the Ordinary General Assembly, Extraordinary General Assembly meetings, the Board of Directors meetings in addition to the Committees of the Board of Directors.

2.   Approved the proposed profit distribution list, which entails a distribution to the shareholders amounting to EGP 400,000,000 from the Company's profits for the financial year ending on 31/12/2023 to be distributed by way of cash coupon amounting to approximately EGP 0.571 per share and a distribution to the employees amounting to EGP 35,456,433 while the Board of Directors have waived their percentage in said profit.

3.   Approved to grant a corporate guarantee by Edita Food Industries S.A.E to Edita for Trade & Distribution S.A.E, Edita Confectionary Industries S.A.E and Edita Frozen Food Industries S.A.E and to delegate Eng. Hani Nabih Aziz Berzi - Chairman and Mr. Samir Nabih Aziz Berzi - Vice Chairman to solely sign corporate guarantee agreements. Additionally, the authorized signatory powers, bank signatures and spending limits which are annotated in the commercial register of the Company shall remain unchanged.

4.   Approved to delegate the Board of Directors to conclude related party agreements during the financial year ending 31/12/2024 as follows:

1.    Conclude a design and engineering consultancy agreement between Edita Food Industries S.A.E and Cyril Aoun Design Studio L.L.C with an amount of approximately EGP 3,000,000 (three million Egyptian pounds) excluding applicable tax and expenses.

-Ends

Contacts

Ms. Menna Shams El Din

Chief Investor Relations Officer & Corporate Affairs          

T: [phone] | M: [phone] |  [e-mail]

 

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