2023-05-18 04:00:26
The shareholders of the Delta holding company met on Tuesday May 16, 2023 at 3 p.m. at the company’s head office in Skhirat, for a Combined General Meeting, under the chairmanship of Mr. Fouad FAHIM, Chairman of the Board of Directors. The Ordinary General Meeting approved the corporate and consolidated financial statements for the year ended December 31, 2022 and adopted all the resolutions submitted to it by the Board of Directors with the exception of the fourth resolution relating to the approval of a new regulated agreement.
Indeed, following the non-counting of HFI shares for the calculation of the quorum, the General Meeting noted that the required quorum was not reached and decided to issue a second call for a meeting of the general meeting. meeting dated 30/05/2023, with a view to discussing this point.
Furthermore, the Extraordinary General Meeting adopted without modification all the resolutions submitted to it by the Board of Directors.
What is it about ?
The Ordinary General Meeting will have to approve a new agreement signed in 2023 with the company HF INTERNATIONAL, shareholder of delta holdingrelating to the opening of a line of credit for a maximum amount of 200 MDH, amount to be used exclusively to cover the cash needs of delta holding subsidiaries in the form of contributions to the partner’s current account. The advances granted by HF INTERNATIONAL to delta holding will be remunerated with interest equal to that of investments in “Term deposit” on the financial market.
Stable turnover in the first quarter
In addition and in a separate press release, Delta Holding informs that during the first quarter of the 2023 financial year, the Group’s consolidated turnover amounted to 600 MDH, at the same level as that of the same period in 2022.
Investment expenditure reached 26 MDH while the net financial debt reached 311 MDH at the level of the consolidated accounts (against 382 MAD at the end of December) and 72 MDH at the level of the corporate accounts against 80 at the end of December.
Change in consolidation scope
The scope of consolidation will see the exit of the subsidiary GLS this year given the difficulties in obtaining the information necessary for the consolidation of its accounts as well as the insignificant nature of its data; its turnover has not exceeded 0.1% of consolidated turnover over the last three financial years. This company, with a capital of 312,570 euros and whose head office is located in France, is held indirectly through the subsidiary DHE, which has 46.7% of the capital and is partially consolidated at 23.82%.
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