REG - Telecom Egypt S.A.E - Telecom Egypt - Board meeting resolutions <Origin Href="QuoteRef">ETEL.CA</Origin>

Telecom Egypt Co SAEAnnouncement

01/04/2016 18:16

RNS Number : 7319T
Telecom Egypt S.A.E
31 March 2016
Telecom Egypt announces resolutions from meeting of Board of Directors 
Cairo, March 31, 2016:Telecom Egypt (te) (Ticker: ETEL.CA; TEEG.LN), today announced the results of its Board meeting resulting in changes to its Board of Directors. The Company has appointed the new board members for a new term of three years, by the decree of the Egyptian Prime Minister, the company's main shareholder via an 80% Government stake.
The seven newly appointed Board members include:
1. Dr. Maged Ibrahim Osman.
2. General Ashraf Mohamed Said Halim.
3. Ms. Lobna Mohamed Helal.
4. Mr. Ahmed Mohamed Hamdy El-Behery.
5. Mr. Mohamed Hassan Shamroukh.
6. Dr. Hassan Yousry Mohamed.
7. Mr. Tamer Abdel Aziz Gad Allah.
Therefore, Telecom Egypt's new Board of Directors structure will be:
1. Dr. Maged Ibrahim Osman.
2. General Ashraf Mohamed Said Halim.
3. Ms. Lobna Mohamed Helal.
4. Mr. Ahmed Mohamed Hamdy El-Behery.
5. Mr. Mohamed Hassan Shamroukh.
6. Dr. Hassan Yousry Mohamed.
7. Mr. Tamer Abdel Aziz Gad Allah.
8. Mr. Mohamed Abdel Latif Attia.
9. Mr. Ahmed Mohamed Gamal Aboali.
10. Dr. Mohamed Hany Seif El-Nasr.
11. Dr. Eskandar Adel Eskandar Tooma.
The new Board of Directors appointed Dr. Maged Ibrahim Osman as the new Chairman of the Board and Mr. Tamer Gad Allah as the new Managing Director and Chief Executive Officer of the company, with immediate effect.
Also the new Board of Directors was made aware of the Resignation of Mr. Hassan Helmy from his position as "Senior Vice President, Chief Financial Officer";
and appointed Mr. Mohamed Hassan Shamroukh to the position of "Vice President, Chief Financial officer".
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For more information, contact:
Investor Relations 
Tel: +202 3131 5215 
Fax: +202 3131 6115
E-mail: investor.relations@te.eg
About Telecom Egypt
Telecom Egypt (te), Egypt's incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization (ARENTO). The Company is the largest provider of fixed-line services in the Middle East and Africa with 6.7 million subscribers as at 30 June 2015.
te provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Telecom Egypt's services 
also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.
te currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.95% holding in Vodafone Egypt, one of the three existing Egyptian mobile operators.
te's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange.

This information is provided by RNS
The company news service from the London Stock Exchange
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