REG - EZZ Steel Company - Resolutions for Extraordinary General Meeting

Ezz Steel Co SAEAnnouncement

28/01/2025 17:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250128:nRSb0050Va&default-theme=true

RNS Number : 0050V  EZZ Steel Company - S.A.E.  28 January 2025

 

EZZ Steel Company - S.A.E.

Cairo, 28 January 2025 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD)

An Extraordinary General Assembly meeting (EGM) of the Company was convened on
28 January 2025 and resolved the following:

1-   Certifying the fair value study prepared by the independent financial
advisor (IFA), BDO Keys for Financial Consultancy on Securities (S.A.E.), and
the auditor's report thereon, at a price of EGP 138.15 per share.

2-   Approving the voluntary delisting of the Company's shares from the
Egyptian Stock Exchange (EGX) and the purchase of shares from objecting
shareholders or from shareholders unwilling to remain with the Company after
delisting, as well as the purchase of the shares underlying the Global
Depositary Receipts (GDRs) listed on the London Stock Exchange (LSE) - in
accordance with the provisions of Article (55) of the EGX Listing &
Delisting Rules - at a price of EGP 138.15 per share, as stated in the report
of the IFA (BDO), which was disclosed on 13 January 2025, on the screens of
the EGX and LSE.

3-   Opening a temporary account named "voluntary delisting shares account"
with the sole purpose of executing the purchase of shares from objecting
shareholders, to be funded by the Company or guaranteed by a third party in
accordance with Article (55) of the EGX Listing & Delisting Rules.

4-   Authorizing the Chairman & Managing Director, or his delegate, to
complete all necessary procedures for implementing the voluntary delisting
from the EGX and LSE listings, purchasing the shares from the objecting
shareholders, pledgee creditors and offering shareholders, and representing
the Company before the FRA, the General Authority for Investment and Free
Zones (GAFI), and all other governmental and non-governmental entities.

 

 Investor Relations

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ROMPKFBDPBKDPDB