8th Jul 2013 07:00
TRANSLATION FROM ARABIC
Summary of Resolutions
for the Annual General Meeting
EFG Hermes Holding S.A.E.
held on July 7th, 2013
Resolution no.1
The AGM approved the management report of the Board of Director on the consolidated financial statements for the financial year ended 31/12/2012.
Resolution no.2
The AGM approved the financial auditor's report on the financial statements for the fiscal year ended 31/12/2012.
Resolution no.3
The AGM ratified the financial statements for the fiscal year ended 31/12/2012.
Resolution no.4
The AGM approved the appropriations account for the fiscal year ending 31/12/2012 as follows:
Profit Appropriation Statement For the Fiscal Year ending 31/12/2012 (EGP) | |
Net profit for the year | 583,489,614 |
Retained Earnings 1/1 | 287,696,024 |
871,185,638 | |
Distributed as follows: | |
Legal Reserve | 29,174,481 |
Shareholder's dividends - stock dividend | 477,903,750 |
Employees' portion | 30,576,317 |
Board of Directors' remuneration | 8,963,250 |
Retained earnings 31/12 | 324,567,840 |
871,185,638 | |
Resolution no.5
The AGM approved the transfer of EGP 477,903,750 (EGP four hundred seventy seven million nine hundred and three thousand seven hundred and fifty) from the retained earnings account as at 31/12/2012 to the share capital account, to distribute 1 bonus share for every 5 shares held by each shareholder.
Resolution no.6
The AGM approved the discharge of the Members of the Board from all liability with regard to the activities of fiscal year 2012 and ratified the changes occurred on the Board, as follows:
Name | Title | Executive/Non-Executive | |
1- | Ms. Mona Zulficar | Chairperson | Non-Executive |
2- | Mr. Yasser El Mallawany | Board Member and CEO | Executive |
3- | Mr. Hassan Heikal | Board Member and CEO | Executive |
4- | Mr. Charles McVeigh | Board Member | Non-Executive |
5- | Mr. William Garrett | Board Member | Non-Executive |
6- | Mr. Robert Eichfeld | Board Member | Non-Executive |
7- | Mr. Thomas Volpe | Board Member | Non-Executive |
8- | Mr. Joseph Iskander (representing Dubai Financial Group) | Board Member | Non-Executive |
9- | Mr. Marwan Lutfi (representing Dubai Financial Group) | Board Member and CEO - Commercial Banking | Non-Executive |
10- | Mr. Takis Arapoglou | Board Member | Executive |
11- | Mr. Karim Awad | Board Member and CEO - Investment Bank | Executive |
Resolution no.7
The AGM approved not to pay out the Board of Directors' transportation and attendance allowances for the fiscal year 2013, whereby the Company shall bear all actual travel and accommodation expenses.
Resolution no.8
The AGM approved the re-appointment of the Company's financial auditors for the fiscal year 2013 and determining their fees;
Resolution no.9
The AGM authorized the Board to make donations in excess of EGP 1,000 during the fiscal year 2013; there were no donations made in the fiscal year 2012.
For further information:
Investor Relations Contacts
Tel: +20 (0)2 35356710
Fax: +20 (0)2 3535 7017
Email: [email protected]
www.efg-hermes.com
TRANSLATION FROM ARABIC
Summary of Resolutions
for the Extraordinary General Meeting
EFG Hermes Holding S.A.E.
held on July 7th, 2013
Due to the lack of legal quorum for the EGM, the second meeting will be scheduled and announced shortly.
For further information:
Investor Relations Contacts
Tel: +20 (0)2 35356710
Fax: +20 (0)2 3535 7017
Email: [email protected]
www.efg-hermes.com
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