Board Resolution- IFC loan

Edita Food Industries S.A.E.

10 October 2023

 

Edita Food Industries - Summary of Resolutions of the Board of Directors Meeting of the company convened on Tuesday dated 10/10/2023

Giza, 10/10/2023

1)   Approval of the minutes of the previous Board of Directors Meeting (No. 177) dated on 10/10/2023.

2)   Eng. Hani Nabih Aziz Berzi updated the Board of Directors and presented that he had signed a long-term finance agreement, in light of the signatory powers granted to him as per the commercial register of the Company, with the International Finance Corporation ("IFC") amounting to USD 45,000,000 (forty five million United Stated dollars) with a tenor of eight (8) years for the purpose of financing the Company's working capital and capital expenditure in the Arab Republic of Egypt and the Kingdom of Morocco, the Company's international expansion plan and the settlement of up to USD 10,000,000 (ten million United States Dollars) of the previously granted IFC loan ("Finance") and accordingly: 1.    Approval of  the loan and the terms and conditions of the long-term finance agreement as well as all procedures in relation thereto in addition to all documents in relation to the Finance which are necessary to obtain the finance and disbursement thereof from IFC. 2.    Approval of the delegation of  Eng. Hani Nabih Aziz Berzi in his capacity as Chairman of the Company and Mr. Sameh Magdy Naguib Mikhail  in his capacity the Chief Financial Officer jointly or Eng. Hani Nabih Aziz Berzi in his capacity as Chairman of the Company, solely , to sign and receive on behalf of the Company all documents related to the Finance agreement to be concluded with IFC, the final forms of all Finance documents and all contracts in relation thereto and they shall have the right to represent the Company before governmental and non-governmental entities, the Notary Public as well as other entities and the right to issue, sign, send any letters or requests (including withdrawal requests from the Finance) in addition to notices, documents, declarations, powers of attorney any other document which may be deemed necessary to finalize and execute the Finance and they shall have the right to delegate other in part or all of the aforementioned.

Edita Food Industries S.A.E. ("the Company") announces that the Board of Directors Meeting of the Company convened on Tuesday dated 10/10/2023 and unanimously resolved the following resolutions:

-Ends

Contacts

Ms. Menna Shams El Din

Investor Relations and Business Development Director

T: [phone] | M: [phone] |  [e-mail]

 

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