Applying a cumulative voting in the election of the members of the Board of Directors

Applying a cumulative voting in the election of the members of the Board of Directors

On Thursday 27/6/2019, a special meeting of the shareholders was held to each of Alexandria Containers and Goods and Canal Shipping Agencies and United Arab Shipping and unloading, and the Holding Company for Maritime and Land Transport- one of the holding companies to the Ministry of the public business sector – headed by ” the chairman of the Holding Company for Maritime and land transport”.   Major General / Salah al-Din Hilmi Abdul Qadir. This is to amend the three companies’ statute by applying the cumulative voting method in electing the board members to allow relative representation whenever possible. Therefore, an amendment of the three company’s statutes, recorded to stock exchange, has been approved; in implementation of registration and write-off rules of securities issued by the General Board of Financial Control. Therefor the use of cumulative voting in the election of the members of the Board of Directors has been added.