30th May 2017 07:00
Orascom Telecom Media and Technology Holding S.A.E.
Established pursuant to the provisions of Law 95/1992
Head Office: Nile City Towers, South Tower,
2005 A Croniche El Nile, Ramlet Beaulac, 11221, Cairo, Egypt
Authorized Capital: EGP 22 Billion
Issued Capital:
EGP: 2,203,190,060.40
(Fully paid)
Number of Issued Shares:
5,245,690,620
Commercial registration number: 394061 Cairo
Summary of the resolutions of the Ordinary General Assembly Meeting
Sunday, May 28, 2017 at 2:30pm
Conrad Hotel - Nile Ballroom - located at 1191 Corniche El Nil - Boulaq - Cairo
The Ordinary General Assembly resolved by majority all its agenda items as follows:
1) Ratifying the Board of Directors' Report on the Company's activities during the fiscal year ending on 31/12/2016.
2) Approving the ratification of the Auditor's Report regarding the standalone and consolidated financial statements for the fiscal year ending on 31/12/2016.
3) Approving the standalone and consolidated financial statements and ratify the general budget and income statement for the fiscal year ending on 31/12/2016.
4) The distribution of dividends in accordance with the Board of Director's recommendation/suggestion amounting to ten piasters per share as per the distribution schedule here below:
Amount in Egyptian pounds | Description |
1,084,693,265 | Net profit for the period |
(341,103,844) | Deported/carried Losses |
743,589,421 | Distributable profit |
Distributed as follows: | |
54,234,663 | Legal reserve |
524,569,062 | Shareholders' dividends |
44,490,999 | Employees' share |
120,294,697 | Retained earnings |
743,589,421 | Total |
5) Discharging the Chairman and all members of the Board of Directors for their services and resolutions during the fiscal year ending on 31/12/2016.
6) The re-election of a new Board of Directors for Orascom Telecom Media and Technology Holding SAE of nine members for a new term including the election of the expert Board members as follows:
Names | Title |
Eng. Naguib Onsi Naguib Sawiris | Chairman |
Eng. Akil Hamed Bashir | Deputy Chairman |
Mr. Tamer Mokhtar Ahmed el Mahdi | Managing Director |
Mr. Ayman Mohamed El Tayeb Mohamed Soliman | Board member (Expert) |
H.E. Ambassador Mohamed Ibrahim Mahmoud Shaker Mohamed | Board Member |
Eng. Khaled Galal Girgis Bishara | Board Member |
Eng. Iskandar Shalaby Naguib Rizk Shalaby | Board Member |
Dr. Sameh Youssef El Torgoman | Board Member (Expert) |
Mr. Ashraf Abdel Tawab Abdel Razek Salman | Board Member (Expert) |
7) determining the remuneration and allowances of the members of the Board of Directors, the members of the Audit Committee and the members of the Investment Committee for the fiscal year ending on 31/12/2017 with no increase from 2016.
8) The appointment of Mr. Samy Abdel Hafeez Ahmed Ibrahim, partner at Hazem Hassan and Partners firm (KPMG), as the Company's auditor for the fiscal year ending on 31/12/2017 and determining an amount of EGP 180,000 (one hundred and eighty thousand Egyptian pounds) as his annual professional fees.
9) Ratifying the Board of Directors' resolutions during the fiscal year ending on 31/12/2016.
10) Ratifying the related party transactions entered into by the Board of Directors during the fiscal year ending 31/12/2017 and authorize the Board of Directors to enter into related party transactions for the year 2017.
11) Approving the donations made by the Board of Directors during 2016 and to authorize the Board of Directors to donate during the year 2017.
Head of Investor Relations
Marwan Hussein
Related Shares:
Orascom Inv