Edita Food Industries - Summary of Resolutions of the Board of Directors' Meeting convened on 30 July 2019
Cairo, July 30, 2019
Edita Food Industries SAE announces that the Board of Directors Meeting of the Company convened on Tuesday, July 30, 2019 and unanimously resolved the following resolutions:
1. Approved the Board of Directors' report for the Company's activities for the financial period ended on June 30, 2019.
2. Approved the Auditor's limited review report for the consolidated and standalone financial statements for the financial period ended on June 30, 2019.
3. Approved the consolidated and standalone financial statements for the financial period ended on June 30, 2019.
4. The Board was informed of the disagreement between Edita and Chipita with regards to the termination date of the Manufacturing and Technical Services Agreement dated 29 April 2011 (at royalty fee of Euro 150,000 per year), which was mutually terminated in 2016, due to Edita not receiving any technical assistance from Chipita. Accordingly, the Board delegated the Chairman and MD to assess the legal status of this matter with the company's legal counsel and determine the required legal actions.
Ms. Menna Shams El Din
Investor Relations and Business Development Director
T: +202 3851 6464 | M: +20 100 1542428 | email@example.com