RCI Finance Maroc, a prominent financial institution, has called for a General Assembly of its bondholders to be held on Friday, January 17, 2025, at the offices of HDID Consultants. This follows a failed attempt to convene on January 3, 2025, due to insufficient quorum.
The assembly carries significant importance for the company and its stakeholders. With a capital of 289,783,500 dirhams, RCI Finance Maroc launched a substantial bond issuance in December 2024, raising 400 million dirhams. In compliance with local regulations, bondholders are organized into a legal entity with its own moral personality to safeguard their collective interests.
What’s on the agenda?
The upcoming meeting aims to address several critical resolutions that will shape the governance and representation of this bondholder group. Key topics on the agenda include:
- The election of a permanent representative for the bondholders.
- Delegation of authority necessary to manage collective interests.
- Completion of legal formalities related to these decisions.
One of the most significant proposals to be voted on is the appointment of HDID Consultants, represented by Mohamed Hdid, a certified public accountant based in Casablanca, as the permanent representative of the bondholders.
Why does this matter?
This assembly is not just a procedural step—it’s a vital forum for ensuring that the rights and interests of bondholders are effectively represented and managed. The failure of the initial meeting highlights the need for active participation from bondholders to achieve the required quorum and move forward with these essential decisions.
With 400 million dirhams on the line and critical governance decisions at stake, all eyes will be on January 17, when bondholders and company representatives gather once again to solidify the framework for managing this substantial financial undertaking.
