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CAIRO - EFG Holding S.A.E., a major Egyptian joint stock company, has announced an invitation to its shareholders to attend the Ordinary General Assembly meeting, which is set to take place on Saturday, May 24, 2025, at 10:00 AM CLT. The assembly will be held at the company’s headquarters in the Smart Village, Cairo, with options for remote participation and voting provided to shareholders.
The agenda for the assembly includes several key items, such as the approval of the Board of Directors’ report, the auditor’s report, and the financial statements for the fiscal year ended December 31, 2024. Additionally, the meeting will address the corporate governance report for the same fiscal year and ratify the resolutions related to the restructuring and listing of U Consumer Finance S.A.E. on the Egyptian Exchange (EGX).
A significant proposal on the agenda is the suggested distribution of the company’s profits by issuing shares in U Consumer Finance S.A.E. to shareholders, amounting to a 20.488% ownership stake, as a result of the restructuring. This distribution is to be based on the book value of U Consumer Finance S.A.E.’s shares and will be allocated to shareholders on a pro-rata basis, with the intention of trading on the EGX.
Furthermore, the assembly will deliberate on the discharge of the Board of Directors from liabilities for the fiscal year 2024, approve board remunerations for the same period, and set the remunerations for 2025. The ratification of past donations and the authorization for future donations exceeding EGP 1,000 will also be on the docket, along with the settlement of share accounts with Misr for Central Clearing, Depository, and Registry (MCDR) resulting from fractional shares due to past capital increases.
Shareholders wishing to attend and vote remotely are required to submit necessary documentation, including identification and shares freezing certificates, through the provided link or QR code. Legal entities may delegate a proxy for attendance and voting. The company has also outlined procedures for submitting questions ahead of the meeting and has made provisions for shareholders to vote in writing if unable to attend or vote electronically.
The meeting is contingent on the attendance or representation of at least 25% of the company’s total outstanding shares. If the quorum is not met, a second meeting will be held the following day with no minimum attendance requirement. Shareholders can access meeting documents and vote remotely starting five days prior to the assembly date.
This information is based on a press release statement from EFG Holding S.A.E.
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