Edita Food Industries - Summary of Resolutions of the Board of Directors' Meetings convened on 30/10/2019
Cairo, October 30, 2019
Edita Food Industries SAE announces that the Board of Directors Meeting of the Company convened on Wednesday 30 October 2019 and unanimously resolved the following resolutions:
1) Approved the minutes of the previous Board of Directors (No. 139) dated 30/7/2019;
2) Approved the Board of Directors' report for the Company's activities for the financial period ending on 30 September 2019.
3) Approved the Auditor's limited review report on the standalone and consolidated financial statements for the financial period ending on 30 September 2019.
4) Approved the standalone and consolidated financial statements for the financial period ending on 30 September 2019.
5) The Board of Directors' unanimously approved the resignation of the representative of Exoder Limited, and approve the replacement letter presented from Kingsway Fund.
6) The Board of Directors' unanimously approved the Cancelation of the signatory powers given to the general manager of the Investment and Finance Departments' general manager due to his resignation. While, maintaining the remaining signatory powers given to others in line with the limits granted to others as is without change.
7) Approved the minutes of the previous Board of Directors Meeting (No. 140) dated 30/10/2019.
8) Approved using One Hundred Thousand (EGP 100,000) Egyptian Pounds from the donation funds authorized by the Ordinary General Assembly convened on 27 March 2019 authorizing the Board of Directors to donate up to ten (EGP 10,000,000) Million Egyptian Pounds and ratified by GAFI on 4/16/2019. In order to establish a social incorporation under the name of Edita for Social Development ("ESD"), pursuant to Article 101 of the Companies Law No. 159 of 1981 and Article 60 of the Law for Organizing Social Work No. 149 of 2019, allowing legal persons to establish social associations. Dueto the desire of the Company to carry out development work towards the society. Moreover, the Board of Directors delegated the law firm of Helmy, Hamza and Partners the legal counsel of the company to pursue all the required procedures on behalf of the Company in front of all concerned authorities to establish the said association
9) Other topics.
Ms. Menna Shams El Din
Investor Relations and Business Development Senior Director
T: +202 3851 6464 | M: +20 100 1542428 | firstname.lastname@example.org