Q3 Results+Internal audit Committee+auditor report

Alexandria Mineral Oils company

Results of board of directors meeting held on Tuesday November 12th, 2019 which includes the following decision:

- The Board approved the report of the Board of Directors and the periodic (audited) financial statements of the company on September, 30th 2019 and its complementary clarifications after been reviewed by the Company's auditors and auditors of the central auditing organization

- The Board of Directors approved the report of the Audit Committee for the same period.

- The composition of the Audit Committee has been modified

- The Board also made some decisions that would conduct the company's normal operational work.

- The company also acknowledges that this summary contains all the essential information that must be disclosed in accordance with the provisions of the Money Market Act, its implementing regulations, and the rules and decisions issued I accordance to them.

Audit Committee Meeting Minutes

For the period ended September, 30th 2019

The Audit committee had reviewed the financial statements of the company on September, 30th 2019 and ensure that existing laws are met according to the company's law No. 159 for the year 1981 and its executive regulations and the Capital Market Law No. 95 for the year 1992 and its implementing regulations and disclosure requirements of the Egyptian Stock Exchange

Important Business issues that had been examined:

The total investment of about 2.448 billion EGP and the total equity of about 2.390 billion EGP and a net profit of about 31.805 Million EGP and net sales of 3.126 billion and the cost of sales of 3.206 billion EGP, and the total profit of about 80.341 million EGP.

As it has been confirmed that the financial statements are made in accordance with the Egyptian Accounting Standards and the committee also reviewed reports regarding information technology and internal workshops as well as to ensure that an independent consultant to prepare a report for the transactions of the related parties.

The Committee also recommend the Board of Directors report and Financial Statements to be presented to the Board for approval

here below you can find the financial statments and the internal auditor reports 

http://www.rns-pdf.londonstockexchange.com/rns/0275V_1-2019-11-28.pdf