Invitation to CIB's Ordinary General Assembly

RNS Number : 1300Q

Commercial Intnl Bank (Egypt) SAE

16 February 2023

 

Commercial International Bank (Egypt) S.A.E.

Authorized Capital:  EGP 50 Billion

Issued and Paid-in Capital: EGP 29,990,562,870 

Head Office: Nile Tower Building

21/23 Charles de Gaulle St., Giza,

C.R. 69826 Giza

Invitation to the Ordinary General Assembly

The Bank's Board of Directors cordially invites the shareholders to attend the Ordinary General Assembly Meeting to be held Monday, March 20, 2023 at 02:30pm. The meeting will be held at the Bank's premises in the Financial District, Smart Village, Zone F10, Building B-219, (Km 28 Cairo-Alex. Desert Road).

In accordance to the General Investment Authority and Free Zones Decree 160 dated March 18, 2020, the General Assembly will be held and participated in by virtual means, using "E-magles" platform. Shareholders are to attend the assembly in person or via the above mentioned platform - which is considered an authentic attendance. Shareholders voting on the items of the agenda should be via that platform.  Shareholders who wish to attend virtually or in person should register using the following link or the QR code starting Wednesday, 1^st of March 2023.

For attendance and voting purposes, blocking shares certificates, powers of attorney, and attendance authorizations are to be sent via the same link or the QR code down below.

rebrand.ly/cibbank

Shareholders can start voting via the E-magles platform as of Wednesday, March 15, 2023. 

The Ordinary General Assembly Agenda :

The Assembly shall meet to consider the following items on the agenda:

(1)  Approve the Board of Directors' Report for the FY 2022.

(2)  Approve the Governance Report with its associated Auditors' Reports for the FY 2022.

(3)  Approve the Auditors' Reports on the separate and consolidated financial statements for the FY 2022.

(4)  Ratify the separate and consolidated financial statements for the FY 2022.

(5)  Approve the Appropriation Account for the FY 2022 and delegate the Board to set and approve the guidelines for the staff profit share distribution.

(6)  Approve the increase of the issued and paid in capital by (20,444,713) shares at par value of EGP 10 per share, representing EGP 204,447,130, to fulfill the bank's obligations pertaining to "Year 14" of the "Promise to Sell - Employees' Stock Ownership Plan" approved by the Financial Regulatory Authority and approve amending articles "Six" and "Seven" of the Bank's statues to reflect the above increase in the issued capital, subject to the approval of the Central Bank of Egypt.

(7)  Approve the changes to the Board of Directors' composition since the last General Assembly held March 27, 2022.

(8)  Discharge the Chair and Members of the Board from all liabilities with regard to the Bank's activities during the FY 2022.

(9)  Elect the Members of the Board for the upcoming Board Term (March 2023-March 2026).

(10)  Approve the proposed Board and Board's Committees annual allowance and remuneration for the Non-Executive Directors for the FY 2023.

(11)  Approve the appointment of the External Auditors and approve the proposed fees for the FY 2023.

(12)  Authorize the Board of Directors to effect donations exceeding EGP 1000 during the FY 2023 and ratify all donations made during the FY 2022.

(13)  Authorize the Non-Executive Directors of the Board to assume full time jobs in other shareholding companies.

Please note the following:

First :  Each shareholder is entitled to attend the General Assembly meeting in person or by a power of attorney or written authorization to another shareholder, other than CIB's Board Members.  Any shareholder is not entitled to represent in the form of proxies more than 10% of the total Bank shares and 20% of the shares represented at the Meeting.

Second :     For attendance purposes, each shareholder is requested to present through the link on the E-magles Platform a certificate accompanied by statement of blocked shares issued by an authorized custodian confirming blocking of shares at least three days prior the meeting date.

Third :     All documents - as stipulated in articles 219, 220 and 221 of the Executive Regulations of Law No. 159/1981 -  will be available at the Bank's Financial Controls Department, Head Office, during the Bank's official working hours for the perusal of all shareholders.

Fourth :    Any inquiry or question concerning the General Assembly Agenda items should be addressed in writing to the Bank's Financial Control Department, Head Office, via registered mail or hand delivered against a receipt, at least three days prior the Assembly date.  Only items pertaining to the stated agenda shall be discussed during the meetings.

Fifth :   The resolutions of the Ordinary General Assembly shall be issued by the absolute majority of the shareholders' votes represented in the meeting.

Sixth :  If the legal quorum of the Ordinary General Assembly is not attained, a second meeting will take place Tuesday, March 21^st, 2023 at 2:30 pm at the same venue.  The second meeting of the Ordinary General Assembly shall be considered valid regardless of the number of shares represented therein.

Chairman of the Board

Sherif Samy

 http://www.rns-pdf.londonstockexchange.com/rns/1300Q_1-2023-2-16.pdf

 

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