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Cairo, April 22
nd, 2021: In light of the precautionary measures taken in Egypt against the Covid-19 pandemic; EFG Hermes has decided to hold its Extraordinary General Meeting through remote participation and voting to ensure the safety of its shareholders, directors and employees, and to facilitate the participation of the Company s shareholders inside and outside of Egypt. The shareholders who wish to attend and vote remotely in the Company s Extraordinary General Meeting are kindly requested to submit the following data/documents via the email address [email protected] : (i) a copy of the personal identification/passport (for natural persons); (ii) mobile number; (iii) an email address, (iv) shares freezing certificates (issued at least three days prior to the meeting date and stating that the shares will be frozen until the Extraordinary General Meeting closes), and (v) a written delegation for attendance an
Cairo, April 22
nd, 2021: In light of the precautionary measures taken in Egypt against the Covid-19 pandemic; EFG Hermes has decided to hold its Annual General Meeting through remote participation and voting to ensure the safety of its shareholders, directors and employees, and to facilitate the participation of the company s shareholders inside and outside of Egypt. The shareholders who wish to attend and vote remotely in the Company s general assembly meeting are kindly requested to submit the following data/documents via the email address [email protected] . : (i) a copy of the personal identification/passport (for natural persons); (ii) mobile number; (iii) an email address, (iv) shares freezing certificates (issued at least three days prior to the meeting date and stating that the shares will be frozen until the Annual General Meeting closes), and (v) a written delegation for attendance and votin
Cairo, April 14
th, 2021 : EFG Hermes S.A.E. Board of Directors convened on Tuesday 13/04/2021 at 12:00 p.m. (CLT) and : First: Approval of the transaction to acquire 76% of the shares of the Arab Investment Bank, in a consortium with The Sovereign Fund of Egypt (TSFE), through a capital increase of the Bank s issued and paid capital to EGP 5 Billion, so that the shareholding percentage of EFG Hermes Holding becomes 51% and the shareholding percentage of TSFE, through a wholly owned sub-fund, 25%, while the National Investment Bank will maintain 24% after implementation of the capital increase . The Board of Directors also approved the Fair Value Report of the capital increase shares to be issued by the Bank, in application of Article 44 of the Listing and Delisting Rules of the Egyptian Exchange. Such report has been prepared by the independent financial advisor, Pricewaterh
1. Brief about the Bank ● Establishment & Shareholders: aiBank was established in 1974 as an investment and commercial bank. aiBank was previously known as The Federal Arab Bank for Development and Investment. As at the valuation date, the bank s shareholders were National Investment Bank( NIB ) (92.2%) and Federation of Arab Republics (7.8%) ● Capital & Minimum Requirement: aiBank paid up capital amounted to EGP 1.84B as at 30 Jun 2020. A subordinated loan from National Investment Bank was approved to be transferred to capital resulting in an increase in paid up capital to EGP 1.98B. ● Headcount: was 956 employees as at the valuation date. ● Branches & Offering: The bank currently operates through 31 branches (owned and leased), with two branches offering Islamic products; one based in Cairo and the other in Alexandria. The headquarters