Cairo, 24 February, 2021

Edita Food Industries SAE ("the Company") announces that the Board of Directors Meeting of the Company convened on 24 February 2021 and unanimously resolved the following resolutions:

1.    Approved the minutes of the previous Board of Directors Meeting (No. 150) dated 10/11/2020.

2.    Approved the Board of Directors report for the Company's activities for the fiscal year ending on 31 December 2020 and the Corporate Governance Annual Report & the Auditor's report thereon.

3.    Approved the Auditor's report on the standalone and consolidated financial statements for the fiscal year ending on 31 December 2020.

4.    Approved the standalone and consolidated financial statements for the fiscal year ending on 31 December 2020.  

5.    Approved the proposal for distribution of dividends for the fiscal year ending on 31 December 2020, which entails distributing to the shareholders an amount of EGP 150 Million from the Company's profits for the fiscal year ending December 31, 2020, by way of a coupon of EGP 0.207 for each share to be presented to the ordinary general meeting for its approval.

6.    Agreed on the proposal of cancelling the treasury shares and reduce the issued capital of the Company to EGP 144,611.687.8 distributed on 723,058,439 stocks instead of EGP 145,072,580 distributed on 725,362,900 stocks, to be presented to the extraordinary general assembly for approval.

7.    Approved the disclosure report prepared in accordance with Article (48) of the Listing and Delisting Rules, in relation to the procedures for the capital decrease of the value of the treasury shares and the delegation of the Chairman and Managing Director to take the necessary to calling the extraordinary general assembly meeting after the declaration of the Financial Regulatory Authority's non-objection on the publishing of the disclosure report on the Egyptian Stock Exchange trading screens.

8.    The Board of Directors was updated of the Audit Committee report.

9.    The Board of Directors was updated on the donation to Edita Foundation for Social Development

10.  The Board of Directors unanimously approved calling the ordinary general assembly meeting to convene on 30 March 2021

11.  The Board of Directors unanimously approved calling the extraordinary general assembly meeting to convene after issuance of the FRA's nonobjection on publishing the disclosure report on EGX trading screens which is prepared in accordance with Article (48) of the listing rules

12.  Approved the delegation of the Chairman and Managing Director to take the necessary procedures for calling the ordinary general assembly meeting and the extraordinary general assembly meeting to convene and to include any additional agenda items.

-Ends

Contacts

Ms. Menna Shams El Din

Investor Relations and Business Development Director

T: +202 3851 6464 | M: +20 100 1542428 |  menna.shamseldin@edita.com.eg