The ordinary general assembly of Lotus for Agricultural Development and Investment held a meeting on October 1, 2026, and approved the election of a new board of directors for a three-year term. The new board was elected through cumulative voting, in accordance with Article 73 of the Companies Law No. 159 of 1981. The board will be led by Lieutenant General Alaa El-Din Yahya Atwa as the independent non-executive chairman.
The new board of directors comprises several members, including Ayman Ismail Salah Abdel Majid as the executive member, Heba Allah Ismail Salah Abdel Majid as a non-executive member, and Adham Ayman Ismail Salah Abdel Majid as the executive member for sustainability and strategic planning. Other members include Rania Essam Mohamed Ezzat as a non-executive member with experience, Dr. Ahmed Mahmoud Othman Darwish, and Dr. Abdel Hadi Ahmed Abdel Hadi Al-Qasbi as independent non-executive members.
The general assembly also approved, by consensus, an increase in the funding provided by the main shareholder, Ayman Ismail Salah Abdel Majid, in the form of a good loan to 100 million EGP. This decision was made after excluding the shares owned by Abdel Majid and his related parties from voting. The increased funding aims to meet the company's financial needs and support the liquidity required to carry out its activities and fulfill its obligations.
The funding provided by the main shareholder is expected to play a significant role in supporting the company's operations and growth plans. Lotus for Agricultural Development and Investment is focused on developing and investing in the agricultural sector in Egypt. The company's activities and projects are expected to benefit from the increased funding and the expertise of the new board of directors.
The election of the new board of directors and the increase in funding are seen as significant developments for Lotus for Agricultural Development and Investment. The company's general assembly meeting was attended by shareholders who approved the proposed changes. The new board of directors is expected to lead the company through a period of growth and development.
According to the company, the increased funding will be used to support its business operations and meet its financial obligations. The company's management expressed its gratitude to the shareholders for their support and confidence in the company's future prospects. The new board of directors is expected to work closely with the company's management to achieve its goals and objectives.
The developments at Lotus for Agricultural Development and Investment reflect the company's commitment to growth and development in the agricultural sector. The company's focus on sustainability and strategic planning is expected to drive its future success.
Key points
- The new board of directors was elected through cumulative voting.
- The main shareholder increased funding to 100 million EGP.
- The company aims to use the funding to support its business operations and meet its financial obligations.
