Result of Board Meeting

Translation from Arabic 

EFG Hermes Board of Directors Meeting

Cairo, Monday 14/5/2013: 

EFG Hermes Board of Directors convened on Monday 13th of May 2013 at 5:00 pm Cairo Local Time and approved the following:

First: Submitting the disclosure forms required by the Egyptian Financial Supervisory Authority (EFSA), according to Article (16) of Listing and Disclosure Rules, to receive EFSA's approval to publish the General Meeting invitation in order to deliberate upon increasing the Company's issued capital from EGP 2,389,518,750 to EGP 2,867,422,500 by distributing 1 bonus share to every 5 shares held by each shareholder (N.B.: the Company has submitted to EFSA the disclosure forms required to retire 391,000 of treasury shares; decreasing by this the Company's issued capital from EGP 2,391,473,750 to EGP 2,389,518,750. The Company has not received EFSA's response to date).

Second: Invite for the Extraordinary General Meeting after receiving EFSA's approval on both disclosure forms mentioned above and delegate the Chairperson to determine the EGM date to deliberate upon the following agenda:

1. Ratify the decreasing of the Company's issued capital from EGP 2,391,473,750 to EGP 2,389,518,750 through retiring 391,000 of treasury shares;

2. Ratify the increasing of the Company's issued capital from EGP 2,389,518,750 to EGP 2,867,422,500 through the transfer of EGP 477,903,750 from the retained earnings account as at 31/12/2012 to the share capital account and distributing 95,580,750 bonus shares, one bonus share for every 5 shares held by each shareholder.

Third: Delegate the Chairperson of the Board of Directors to determine the AGM date and publish the invitation within one week at most from receiving EFSA's approval on both disclosure forms mentioned above. The AGM will also deliberate upon the following:

1. Ratify the Board of Directors' report for the fiscal year ending 31/12/2012;

2. Approve the financial auditor's report on the financial statements for the fiscal year ending 31/12/2012;

3. Ratify the financial statements for the fiscal year ending 31/12/2012;

4. Approve the appropriations account for the fiscal year ending 31/12/2012;

5. Approve the release of the Board of Directors from liability for management for the fiscal year ending 31/12/2012 and ratify the changes occurred on the Board;

6. Approve the Board of Directors' remuneration and allowances for the fiscal year 2012;

7. Approve the re-appointment of the Company's financial auditors for the fiscal year 2013 and determining their fees;

8. Ratify all donations during 2012 and authorize the Board of Directors to approve donation amounts greater than EGP1,000 during the fiscal year 2013.

The Meeting concluded at 5:30pm Cairo Local Time.

For further information:

Investor Relations Contacts

Tel: +20 (0)2 35356710

Fax: +20 (0)2 3535 7017

Email: [email protected]

www.efg-hermes.com