Maghreb Oxygène, a company with a capital of 81,250,000 dirhams, has scheduled an Extraordinary General Meeting (EGM) for January 6, 2025, at 11:00 a.m. The meeting will be held at Akwa Group’s headquarters in the Tafraouti building, Aïn Sebâa, Casablanca. This pivotal session will focus on strategic financial initiatives, including the approval of a bond issuance program.
Ambitious bond issuance program
The primary agenda item is the approval of a bond issuance plan in compliance with Article 294 of Law 17-95 governing public limited companies. The proposed operation involves issuing bonds worth up to 450 million dirhams over a five-year period through multiple private placement tranches.
The initiative is designed to strengthen Maghreb Oxygène’s financial capacity, support its growth objectives, and optimize its capital structure. Shareholders will also be asked to grant the Board of Directors the authority to manage the issuance process and set conditions as deemed appropriate.
Ensuring shareholder participation
To participate in the EGM, shareholders holding either registered or bearer shares must adhere to specific procedural requirements. For bearer shares, shareholders must provide proof of account registration through an authorized financial intermediary. Registered shareholders must ensure their shares are properly recorded in advance.
In line with Article 121 of Law 17-95, any shareholder meeting the stipulated conditions can request the inclusion of resolution proposals in the agenda within ten days of the announcement. Shareholders may also appoint proxies, including spouses, direct family members, or authorized portfolio management entities, to represent them at the meeting.
Key resolutions on the table
The following resolutions will be presented for approval during the meeting:
- Approval of the bond issuance program
Shareholders will vote on the authorization to issue bonds totaling a maximum of 450 million dirhams, with actual issuance limited to received subscriptions. - Delegation of authority to the board of directors
The Board will be empowered to execute bond issuances, determine terms (amounts, schedules, tranches, etc.), and complete all necessary formalities. - Legal formalities
Authorization will be granted to carry out the required filings and legal documentation, based on an extract of the meeting minutes.
A commitment to transparency
Maghreb Oxygène is committed to ensuring transparency throughout this process. Legal documents and information regarding participation and voting procedures will be made available at the company’s headquarters and on its official website, www.maghreboxygene.ma. This initiative aligns with regulatory requirements and reinforces the company’s dedication to inclusive governance.
By convening this EGM, Maghreb Oxygène signals its intent to mobilize financial resources strategically while fostering an environment of transparency and accountability. The decisions made at this meeting will play a crucial role in shaping the company’s future and strengthening its market position.
