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When is Egypt's ordinary general assembly held?

Last updated 8/12/20260 viewsProvisional

Egypt's ordinary general assembly meets at least once yearly within 6 months of the financial year's end. Quorum requires shareholders representing at least a quarter of capital.

The shareholders' general assembly is convened by the chairman of the board at the time and place set by the company's statute, and must be held at least once a year within the six months following the end of the financial year (art. 61).

The board must convene the ordinary general assembly if requested by the auditor or by shareholders representing at least 5% of the capital, provided they explain the reasons and deposit their shares (art. 61).

As for quorum, the meeting is valid only if attended by shareholders representing at least a quarter of the capital, unless the statute requires a higher proportion not exceeding half the capital; if the minimum is not met, a second meeting must be convened within the following thirty days, and the second meeting is valid regardless of the number of shares represented (art. 67).

Resolutions of the ordinary general assembly pass by an absolute majority of the shares represented at the meeting (art. 67).

The ordinary general assembly is competent to elect and dismiss board members, oversee the board's work, approve the balance sheet and profit-and-loss account, and approve profit distribution (art. 63).

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