The Banque Centrale Populaire (BCP) has summoned its bondholders to attend two ordinary general meetings scheduled for February 28, 2025. These meetings, to be held at HDID Consultants’ offices in Casablanca, will focus on key resolutions regarding the management of bondholder interests.
The first meeting, set for 3:00 p.m., concerns holders of bonds issued in December 2024 as part of a 1.2 billion dirham bond loan. A major point on the agenda is the election of Mohamed Hdid, a certified public accountant and head of HDID Consultants, as the permanent representative of the bondholders. Hdid has already accepted the nomination and will be tasked with safeguarding the collective interests of the bondholders in accordance with current legislation. His annual remuneration has been set at 30,000 dirhams (excluding taxes), with expenses related to his duties covered by the bond issuer.
The second meeting, scheduled for 3:30 p.m., targets holders of bonds issued in June 2024, valued at 800 million dirhams. An earlier meeting in November 2024 failed to reach the required quorum. The agenda for this session mirrors that of the first meeting: the election of a bondholder representative, delegation of powers to manage collective interests, and the completion of necessary legal formalities.
Both meetings are critical for ensuring proper representation and protection of bondholder rights, reaffirming BCP’s commitment to transparent governance in managing its financial obligations.
