REG - EZZ Steel Company - Results of EGM

Ezz Steel Co SAEAnnouncement

10/06/2024 07:00

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RNS Number : 7020R  EZZ Steel Company - S.A.E.  09 June 2024

 

 

EZZ Steel Company - S.A.E.

Cairo, 9 June 2024 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD)

The resolutions of the company's Extra ordinary General Assembly meeting held
on 8 June 2023 are as follows:

1-   Approving the decrease of the company's capital by writing off 910,481
treasury shares with a face value of EGP 4,552,405 and amending Articles (6)
and (7) of the company's articles of association to reflect this capital
decrease.

2-   Approving for Ezz Steel to issue joint guarantees in favor of its
subsidiaries (Al Ezz Dekheila Steel Alexandria (EZDK), and its subsidiaries Al
Ezz Flat Steel (EFS) and Al Ezz Rolling Mills (ERM)), up to a maximum of USD
500 million (five hundred million US Dollars) or the equivalent in Egyptian
pounds, in favor of banks inside and/or outside Egypt, to comply with terms,
conditions and undertakings required for these subsidiaries to obtain medium
and long term loan facilities, and authorizing Mr. Hassan Nouh -Managing
Director, or whoever he delegates, to sign these joint guarantees, all
documents related to them, and the undertakings of the joint guarantor, Ezz
Steel Company, their appendices and amendments, including approving
arbitration clauses if any.

 

    Investor Relations

 

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