REG - Edita Food Ind SAE - Board Resolution- IFC loan

Edita Food Industries SAEAnnouncement

10/10/2023 14:45

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RNS Number : 6631P  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: +202 3851 6464 | M: +20 100 1542428 |  menna.shamseldin@edita.com.eg
(mailto:%20menna.shamseldin@edita.com.eg)

 

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