EFG-Hermes Holdings EFGD Statement re BoD Resolutions

  EFG-Hermes Holdings (EFGD) - Statement re BoD Resolutions

RNS Number : 4037E
EFG-Hermes Holdings SAE
30 May 2012


                  Summary of Board of Directors Resolutions

                          EFG Hermes Holding S.A.E.

                        Tuesday 29/5/2012, 4:00pm CLT

EFG-Hermes Holding S.A.E. Board of Directors approved the following:

Ratification of  the report  presented by  the Independent  Financial  Advisor 
(IFA), Grant Thornton, to determine the fair value for certain companies owned
by EFG Hermes  Holding (directly and  indirectly) as per  Article (33) of  the 
Egyptian Financial Supervisory Authority's  Listing and Disclosure Rules,  for 
the purpose of transferring the ownership of EFG-Hermes Management S.A.E.  and 
EFG-Hermes Fixed Income to be directly owned by EFG Hermes Holding S.A.E., and
transferring the  ownership of  the  below listed  companies  to be  owned  by 
EFG-Hermes Qatar LLC (sister company):

1- Egyptian Fund Management Group S.A.E.

2- Egyptian Portfolio Management Group S.A.E.

3- Financial Brokerage Group S.A.E.

4- Hermes Corporate Finance S.A.E.

5- EFG-Hermes Investment Funds Co. S.A.E.

6- Hermes Fund Management S.A.E.

7- Hermes Securities Brokerage S.A.E.

8- EFG-Hermes Promoting and Underwriting S.A.E.

According to the IFA report, the aggregate value of the companies listed above
is EGP700.5 million (equivalent to approximately USD116 million). In  addition 
to the above listed companies, EFG Hermes Holding S.A.E. key businesses in the
Arab  region  (which  includes  the  Brokerage,  Research,  Asset  Management, 
Investment  Banking,  and  Infrastructure   Fund  businesses)  will  also   be 
transferred to EFG-Hermes  Qatar LLC  in consideration  for QInvest  injecting 
USD250 million in the form of a capital increase.

The meeting ended at 05:00pm Cairo Local Time.

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


STRGMGFKGGVGZZM -0- May/30/2012 10:09 GMT
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