The ordinary general assembly of Sharm Dreams for Tourism Investment convened on October 1, 2026, and approved the company's financial results for the fiscal year ending December 31, 2025. The assembly also agreed to reconstitute the board of directors. The meeting saw the approval of the board's report on the company's activities, corporate governance report, and auditor's report, in addition to the ratification of the financial statements for the fiscal year 2025.
The assembly granted discharge to the chairman and members of the board of directors for their financial, administrative, and legal contracts and actions during the fiscal year 2025. The new board of directors will be chaired by Dr. Hamada Mohamed Kamal El-Din Abu El-Enein, who will also serve as the company's managing director. He has been granted the same powers of signature and management as previously recorded in the commercial register.
The board of directors will comprise Mohamed El-Mekkadai as deputy chairman and non-executive member, along with other non-executive members, including Alaa Mohamed Amin Ali Belbac, Abdel Halim Mohamed El-Feki, Sahar Said Hashmet, Tarek Ibrahim Metwally El-Nomaney, and Nahi Khalil Ismail. The assembly also approved the appointment of independent members with relevant experience, as per the approved formation.
The general assembly sanctioned the remuneration and allowances for the chairman, board members, and committees for 2026, as well as the compensation for board members for the fiscal year 2025. Furthermore, the assembly authorized the board to enter into exchange contracts in 2026, subject to approval at the next ordinary general assembly, as no such contracts were made in 2025.
The assembly also permitted the chairman and board members to engage in artistic or administrative work in other joint-stock companies on a permanent basis. Additionally, the assembly approved the donations for the fiscal year ending December 31, 2026.
Regarding the company's auditor, the assembly unanimously agreed to appoint Rashad Ahmed Kamal Hosny from MAZARS to audit the company's accounts for the fiscal year ending December 31, 2026, and determined his annual fees. This decision came after the UHY office declined to continue reviewing the company's financial statements.
With these decisions, Sharm Dreams' general assembly concluded its meeting, having addressed key aspects of the company's governance and financial oversight. The new board of directors and auditor are expected to play crucial roles in guiding the company's future operations and ensuring transparency in its financial dealings.
Key points
- Sharm Dreams' general assembly approved the reconstitution of the board of directors.
- Dr. Hamada Mohamed Kamal El-Din Abu El-Enein will chair the new board of directors.
- Rashad Ahmed Kamal Hosny from MAZARS will serve as the company's auditor for the fiscal year 2026.
