Arab Finance: The regular general assembly of a company agreed Arab Energy (Taqa)To give the right to the board of directors to issue guarantees to the owned companies, or its or or that contribute to it, whether directly or indirectly, within the limits of the company's contribution rate in it, with a maximum amount of 100 million dollars or what is equivalent to other currencies, according to the Egyptian Stock Exchange statement.
The council has the right to determine who has the right to sign and issue these guarantees, and sign all documents related to it before all governmental and non -governmental bodies inside and outside the Arab Republic of Egypt.
It was reported that the public decisions held last Thursday included approval to authorize both Buckinam Kafafi, CEO, and Peter Moufid Gerges Saad, head of the financial sector gathered in signing all documents related to issuing guarantees of no more than 30 million dollars or equivalent from other currencies, from the total amount authorized by the Board Arab energy, either directly or indirectly, and they have the right to delegate and attach others to that.
Also, in the event that the company’s management is willing to issue guarantees exceeding 30 million dollars and not exceeding 100 million dollars, the approval of the Board of Directors must be obtained in advance, and she emphasized that in all cases the board of directors must be informed of a statement of guarantees issued by the company at the quarterly meeting of the Council.
On the results of her business during the period from 01/01/2025 to 31/03/2025, a net profit show showed Assembly 136,079,277 pounds, compared to the company’s achievement for a net profit of 102,776,066 pounds during the period from 01/01/2024 to 31/03/2024.
In the same context, the company achieved a net profit Independent For the period from 01/01/2025 to 31/03/2025, estimated at 155,162,436 pounds, a net profit for 174,849,380 pounds, during the comparative period of the previous fiscal year.
It is worth noting that net profits or losses of the year are calculated according to the share of the owners of the parent company.
The company was established in 2006 and is considered the largest subsidiary of the private sector in the field of energy distribution in Egypt, where the company has the experience of Terbo over 20 years of investment and the operation of infrastructure networks for the energy sector, from natural gas distribution to generating and distributing electric energy and marketing petroleum products, and an Arab energy company provides its services through five subsidiaries, namely the gas sector, the electricity sector, the marketing and distribution of petroleum products, solar energy sector and the water sector.
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