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CAIRO - Commercial International Bank - Egypt (CIB) has announced its Ordinary General Assembly meeting to be held on Sunday, March 23, 2025. The gathering is set to take place at the bank’s premises in the Financial District, Smart Village, at 2:00 PM. The meeting will be accessible both in person and online through the "E-magles" platform, which will facilitate official attendance and voting.
Shareholders are invited to register for the meeting starting Sunday, March 2, 2025, using a link or QR code provided by the bank. Documentation such as share blocking certificates and powers of attorney must be submitted through the same platform. The E-magles platform will also open for voting on agenda items from Sunday, March 16, 2025.
The agenda includes the approval of the Board of Directors’ and Governance Reports for Fiscal Year 2024, along with the separate and consolidated financial statements for the same period. The Assembly will also consider the Appropriation Account for Fiscal Year 2024 and the proposed increase of the issued and paid-in capital by EGP 276,930,000 to fulfill obligations related to the bank’s Employee Stock Ownership Plan.
Additionally, updates to the Board of Directors’ composition since the last General Assembly, the release of the Chair and Board Members from liabilities, the proposed remuneration for Non-Executive Directors, and the appointment of External Auditors for Fiscal Year 2025 will be reviewed. The General Assembly will also authorize the Board of Directors to make donations exceeding EGP 1000 and grant authorization for Non-Executive Directors to hold full-time positions in other shareholding companies.
Shareholders are required to submit a statement of blocked shares issued by an authorized custodian at least three days prior to the meeting for attendance verification. Detailed statements and documents will be available for review at the bank’s Financial Controls Department during official working hours.
Any inquiries related to the agenda must be submitted to the Financial Controls Department at least three days before the meeting. Decisions will be made by an absolute majority vote, with a second meeting scheduled for Monday, March 24, 2025, if the required legal quorum is not met.
This information, based on a press release statement, outlines the procedural and regulatory compliance for CIB’s upcoming General Assembly.
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