JET Contractors has announced an Ordinary General Assembly scheduled for December 16, 2024, at 3:00 PM. The meeting will take place at the company’s plant in Oued Ykem, with shareholders convening to discuss and vote on critical resolutions, including the approval of a significant bond issuance program.
The agenda includes the authorization of a bond issuance program to raise up to 1 billion MAD. This initiative, in compliance with Articles 292 to 315 of Law No. 17-95, may be carried out in one or multiple phases over a five-year period. Additionally, shareholders will deliberate on delegating powers to the Board of Directors to oversee the issuance. This delegation includes determining the timing, terms, and conditions of the bonds, setting interest rates, repayment modalities, and ensuring the protection of bondholder rights. The Board will also be empowered to appoint representatives and handle all necessary administrative and legal formalities. These powers, if approved, will remain valid for five years.
The assembly will also grant powers to designated individuals to fulfill the necessary legal formalities stemming from the meeting.
Shareholders wishing to participate must provide proof of ownership. Bearer shareholders need to submit a certificate of account registration from an authorized financial intermediary no later than five days before the meeting. Registered shareholders must ensure their names appear in the company’s registry at least five days prior. Admission to the assembly will require proof of identity.
In accordance with Article 117 of Law No. 17-95, shareholders holding the requisite percentage of shares may propose additional agenda items within ten days of this announcement. Such requests must be sent via registered mail to the company’s headquarters. Shareholders may be represented by another shareholder, a spouse, a descendant, an ascendant, or a legally authorized entity. Proxy forms are available at the company’s headquarters and on its official website at www.jet-contractors.com.
Relevant documents for the General Assembly are available at the company’s headquarters and can be accessed free of charge. These include all materials necessary for reviewing the proposed resolutions.
The draft resolutions to be presented at the assembly include the approval of the bond issuance program, the delegation of powers to the Board of Directors, and the granting of legal authority to ensure the smooth execution of post-meeting formalities.
