24th Apr 2008 14:47
EFG-Hermes Holdings SAE24 April 2008 Summary of the Ordinary General Assembly Meeting The Ordinary General Assembly Meeting of EFG-Hermes Holding Company was held today 24th April 2008 and resolved the following: 1. Ratified the Board of Directors' report for the fiscal year ending 31/12/2007;2. Ratified the Auditor's Report for the fiscal year ending 31/12/2007;3 Ratified the audited financial statements for the fiscal year ending 31/12/2007;4. Approved the appropriation account the fiscal year ending 31/12/2007; distributing EGP1/share with the ex-dividend date set at Tuesday 20th May 2008. Further delegating either of the Chief Executive Officers to change either the ex-dividend date or the cashing of dividends date as per regulatory or procedural requirements as need be;5. Approved the release of the Board of Directors' from responsibility for the fiscal year ending 31/12/2007;6. Approved the reinstating the current Board of Directors and the various Board Committees for another tenure as well as increasing the Board of Directors to 13 members up from the current level of 10 as per the following; Board of Directors 1. Ms. Mona Zulficar Non-Executive Chairperson2. Mr. Yasser El Mallawany Chief Executive Officer & Board Member3. Mr. Hassan Heikal Chief Executive Officer & Board Member4. Mr. Ramsay Zaki Chief Operations Officer & Board Member5. Mr. Sherif Cararah Head of Securities Brokerage & Board Member6. Mr. Charles McVeigh III Non-Executive Board Member7. Mr. William Garrett Non-Executive Board Member8. Mr. Walid Kaba Non-Executive Board Member9. Mr. Robert Eichfeld Non-Executive Board Member10. Mr. Sanjeev Doshi Non-Executive Board Member11. Mr. Sayanta Basu (on behalf of Abraaj SPV 26; a member of the Dubai Financial Group)12. Mr. Thomas Volpe (on behalf of Abraaj Egypt; a member of the Dubai Financial Group)13. Member to be Named (on behalf of Abraaj Egypt; a member of the Dubai Financial Group) Compensation Committee: Mr. Charles McVeigh III, Mr. William Garrett and Mr. Sayanta Basu Audit Committee Ms. Mona Zulficar, Mr. Robert Eichfeld and Mr. Thomas Volpe 7. Approved the Board of Directors' allowances for attending the meetings to be actual expenses:8. Approved the re-assignment of the auditors (KPMG-Hazem Hassan) for the fiscal year 2008 with fees of EGP 80,000:9 Ratified the donations that look place during 2007 (mainly EGP 12 million to the EFG-Hermes Foundation) and approving authorization to the Board of Directors to donate during the fiscal year 2008 amounts greater than EGP 1,000 including EGP 15 million to the EFG-Hermes Foundation. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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