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CAIRO - EFG Holding S.A.E. shareholders approved the reappointment of KPMG Hazem Hassan partner Abdelhady Mohamed Ali Ibrahim as the company’s auditor for fiscal year 2025 during their Ordinary General Assembly Meeting held Saturday.
The shareholders also approved a dividend distribution plan from the company’s retained earnings, according to a statement based on a press release issued by the company.
Despite posting a net loss of EGP 345,735,256 for the period, EFG Holding will distribute dividends using its retained earnings from previous years, which amount to EGP 964,292,876, resulting in total retained earnings of EGP 618,557,620.
The approved distribution plan allocates EGP 335,322,346 for shareholder dividends in the form of U Consumer Finance S.A.E. shares and EGP 37,258,038 for employee profit sharing. The company will retain EGP 245,977,235 for the following year.
The meeting, which took place on September 20, also authorized legal representatives to handle necessary procedures with regulatory authorities, including the Financial Regulatory Authority and the commercial register.
No allocation was made to the legal reserve or for non-executive board members’ profit share in the distribution plan.
The board of directors will determine the auditor’s remuneration, as delegated by the shareholders during the meeting.
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