Latest news with #GeneralMeetingofShareholders
Al-Ahram Weekly
29-06-2025
- Business
- Al-Ahram Weekly
Veteran insider George Elombi appointed Afreximbank next president - Economy
Elombi's selection was finalized at the 32nd Afreximbank Group Annual Meetings and associated events, culminating in the formal annual General Meeting of Shareholders on Saturday, 28 June 2025, in Abuja, Nigeria. Elombi, a Cameroonian national in his early 60s, is set to assume the role in September 2025, bringing nearly three decades of experience to the position. He succeeds Professor Benedict Oramah, who has served as president since 2015. Elombi joined Afreximbank in 1996 as a legal officer and subsequently advanced through the ranks, most recently becoming the executive vice president (corporate governance and legal services). His previous roles also include director, executive secretary, deputy director, legal services executive secretary, chief legal officer, and senior legal officer. Before his tenure at Afreximbank, he taught law at the University of Hull in the United Kingdom. Afreximbank is a pan-African multilateral financial institution established in 1993 under the auspices of the African Development Bank. Headquartered in Cairo, Egypt, its core mandate is to finance and promote intra- and extra-African trade, thereby stimulating economic expansion and diversification across the continent. The bank plays a crucial role in addressing trade finance gaps, facilitating industrialization, and supporting the implementation of key initiatives such as the African Continental Free Trade Area (AfCFTA). Its diverse shareholders include African governments, central banks, regional and sub-regional institutions, as well as African and non-African public and private investors. As of December 2024, Afreximbank's total assets and contingencies stood at over $40.1 billion, with shareholder funds amounting to $7.2 billion. The appointment of a new president is a pivotal moment for Afreximbank, given its significant influence on Africa's economic development. Elombi's extensive tenure within the bank and his pivotal role in establishing its group structure and subsidiaries suggest a continuation of the institution's strategic direction. His leadership as chair of the Emergency Response Committee during the COVID-19 crisis, during which he mobilized over $2 billion for vaccine acquisition and deployment, highlights his capacity for impactful action in challenging times. Elombi has the ambitious target of growing Afreximbank into a $250 billion bank within the next decade, a goal articulated by his predecessor and accepted by the shareholders. Achieving this will further the bank's mission of transforming Africa's trade landscape, particularly as the continent navigates global economic shifts and seeks to bolster intra-African trade through initiatives like the AfCFTA. The institution's ability to provide trade, project financing, guarantees, and advisory services directly impacts the continent's capacity to industrialize, diversify its exports, and build resilience against external shocks. In his acceptance speech, Elombi underscored his commitment to the bank's mission. 'I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution's vision, its mandate, as well as its growth. As we look to the future, I see Afreximbank as a force for industrializing Africa and for regaining the dignity of Africans wherever they are. I will work to preserve this important asset,' he said. Elombi holds a master's degree in Law and a PhD in Commercial Arbitration from the London School of Economics, University of London, as well as a master's degree in Law from the University of Yaoundé. His appointment followed a rigorous global search process initiated in January 2025, culminating in a recommendation from the board of directors to the General Meeting of Shareholders for final approval. Under the Afreximbank Charter, a president serves a five-year term, renewable once.
Yahoo
05-06-2025
- Business
- Yahoo
Philips announces exchange ratio for 2024 dividend
June 5, 2025 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), today announced that the exchange ratio for the dividend for the year 2024 is 1 new common share for every 23.6353 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 30, June 2, and 3, 2025, of EUR 20.0600 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 22,980,748 new common shares. Shareholders have been given the opportunity to make their choice between a dividend in shares or (subject to certain conditions) in cash. The aggregate cash election result was 41.4%, which is below the 50% maximum as adopted in the General Meeting of Shareholders and therefore shareholders will receive the dividend in accordance with their election. Delivery of new common shares, with settlement of fractions in cash, if required, and payment of the cash dividend will take place from June 6, 2025. Upon distribution, the total issued share capital will amount to EUR 192,584,026, representing 962,920,132 common shares. More information is available via this link. For further information, please contact:Michael FuchsPhilips Global External RelationsTel.: +31 6 1486 9261E-mail: Dorin DanuPhilips Investor RelationsTel.: +31 20 59 77055E-mail: About Royal Philips Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,200 employees with sales and services in more than 100 countries. News about Philips can be found at Forward-looking statementsThis release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips' organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements. Sign in to access your portfolio
Yahoo
26-05-2025
- Business
- Yahoo
Issue of new VINCI shares reserved for the employees of foreign subsidiaries of VINCI in the context of the international Group savings plan
A French public limited company (société anonyme) with capital of €1,456,035,992.50Registered office: 1973, boulevard de la Défense – 92000 NanterreRegistered number: 552 037 806 RCS relations department: actionnaires@ Issue of new VINCI sharesreserved for the employees of foreign subsidiaries of VINCIin the context of the international Group savings plan In its thirteenth resolution, the Combined Shareholders' General Meeting of 9 April 2024 delegated to the Board of Directors, for a period of 18 months expiring on 8 October 2025, its authority to carry out capital increases reserved for the employees of certain foreign subsidiaries of the Group. At its meeting on 16 October 2024, VINCI's Board of Directors thus set the terms of a capital increase reserved for the employees of VINCI subsidiaries located in Germany, Australia, Austria, Bahrain, Belgium, Brazil, Cambodia, Cameroon, Canada, Chile, Colombia, Ivory Coast, Croatia, Denmark, United Arab Emirates, Spain, United States, Finland, Greece, Hong-Kong, Hungary, Indonesia, Ireland, Italy, Lithuania, Luxembourg, Malaysia, Morocco, Mexico, Norway, New Zealand, Netherlands, Peru, Poland, Portugal, Dominican Republic, Czech Republic, Romania, Senegal, Serbia, Singapore, Slovakia, Sweden and Switzerland. At its meeting on April 17, 2025, the Board of Directors confirmed as required the decisions made on October 16, 2024, and delegated full powers to the Chief Executive Officer, in particular to set the opening and closing dates of the subscription periods in the countries concerned, and to set the subscription price for the new shares within the framework defined by the General Meeting. In his decision of May 23, 2025, VINCI's Chief Executive Officer decided that the employee share ownership would not be offered in Ivory Coast and Senegal due to local regulatory constraints. In the same decision, VINCI's Chief Executive Officer decided that the subscription period would run, in all the countries concerned, from Monday 26 May 2025 to Friday 13 June 2025. In this decision, VINCI's Chief Executive Officer set the issue price of the new shares which is equal to the average price of the VINCI shares prices quoted on the regulated market of Euronext Paris SA on the basis of the vwap (volume-weighted average price) during the 20 trading sessions preceding 23 May 2025, i.e. €125.33 per new share to be issued. The maximum number of shares that may be issued and the total amount of the issue will depend on the level of employees' subscriptions. The maximum number of new shares to be issued may not exceed the limit set by the Shareholders' General Meeting of 9 April 2024 in its thirteenth resolution and, if this limit is insufficient, by that set by the General Meeting of Shareholders of 17 April 2025 in its twenty-sixth resolution. The total number of new shares that may be issued on the basis of the thirteenth resolution of the Shareholders' Meeting of 9 April 2024 and on the basis of the twelfth resolution of the same Shareholders' Meeting in favor of employee shareholding in accordance with the provisions of Articles L. 225-138-1 and seq. of the French Commercial Code and L. 3332-1 and seq. of the French Labour Code may not exceed 1.5% of the number of shares comprising the authorized share capital at the time the Board makes its decision. The new VINCI shares to be issued1 will be subscribed by employees in July 2025 through the "Castor International Relais 2025" FCPE, except in the United States, Croatia, Greece, Italy and Poland where they will be subscribed by employees directly. The admission of these new shares to trading on the regulated market of Euronext Paris will be requested immediately after their issue. The subscribed shares will be frozen for 3 years from the date of the capital increase (except in specific cases of early release). Subject to this reservation, these ordinary shares will not be subject to any restrictions and will carry dividend rights from 1 January 2025. ** ** Nanterre, 23 May 2025 1 Up to the total amount of employee contributions Attachment Document d'information Castor International 2024 (Anglais)-vdéf
