Edita Board of Directors Resolutions 28 Feb 2016

Cairo, February 28, 2017

Edita Food Industries SAE announces that the Board of Directors of the Company has resolved the following resolutions in the Board Meetings held on Tuesday, February 28, 2017:

1. Unanimously approved the minutes of the previous Board of Directors Meeting (No. 119) dated 9/11/2016.

2. Unanimously approved the auditor's report on the independent and consolidated financial statements of the Company in connection with the fiscal year ending on December 31, 2016, to be presented to the ordinary general meeting for its approval.

3. Unanimously approved the Company's balance sheet and profit and loss accounts, as well as the Board of Directors' report for the fiscal year ending on December 31, 2016, to be presented to the ordinary general meeting for its approval.

4. Unanimously approved proposal for distribution of dividends for the fiscal year ending on December 31, 2016, which includes distributing to the shareholders an amount EGP 108,696,388 from the Company's profits for the fiscal year ending December 31, 2016, by way of a coupon of 15 Piasters for each share, to be presented to the ordinary general meeting for its approval.

5. unanimously approved calling for the Ordinary General Meeting to convene, and authorized the Chairman and Managing Director to set the time and place of the meeting and to send the invitations, in order to discuss the following agenda:

a. Approving the Board of Directors report for the fiscal year ending 31/12/2016.

b. Approving the Auditor's report for the standalone and consolidated financial statements for the fiscal year ending 31/12/2016.

c. Approving the Company's balance sheet and profit and loss accounts for the fiscal year ending on 31/12/2016.

d. Approving the proposed profit distribution, which comprises of a profit distribution.  

e. Discharging the members of the Board of Directors from their responsibilities for the fiscal year ending 31/12/2016.

f. Determining the Board of Directors' allowance and remuneration for the fiscal year ending 31/12/2017.

g. Authorizing the Board of Directors in concluding related party contracts during the fiscal year ending 31/12/2017.

h. Authorizing the Board of Directors to grant donations during the fiscal year ending 31/12/2017, and approve the donations granted during the fiscal year ending 31/12/2016.

i. Appointing the Company's auditor for the fiscal year ending 31/12/2017 and determining his remuneration.

6. Unanimously approved delegating the Chairman and Managing Director to proceed with procedures for calling the ordinary general meeting and to send the invitation and set the time and place of the meeting.

7. Unanimously approved adding a new branch of the Company in the commercial register at the following address: Plots (108, 111, 112, 113, 115, 116) at Polaris El Zamil - North Extension - Sixth of October - Giza, as well as calling for the Extraordinary General Meeting to convene, and authorizing the Chairman and Managing Director to set the time and place of the meeting and to send the invitations, in order to discuss amendment of Article 4 of the Company's articles of association.

-Ends-

Contacts

Ms. Menna Shams El Din

Investor Relations and Business Development DirectorT: +202 3851 6464 | M: +20 100 1542428 |  [email protected]

Ms. Yasmine Ghobrial

Senior Investor Relations SpecialistT: +202 3851 6464 | M: +20 1227563935 | [email protected]