Morning Brief - november 20th, 2020

FINANCIAL MARKET HEADLINES

| MOROCCO | ATTIJARIWAFA BANK | Payout of an extraordinary DPS of MAD 13.5

The shareholders of Attijariwafa bank are convened to the Ordinary General Meeting to be held extraordinarily Meetings on De-cember 21st 2020 in order to deliberate on the following points:

• An extraordinary distribution of an amount to be withdrawn from the "optional reserves" item for a total amount of MAD 1,416,552,833.25, i.e. a unit amount of MAD 6.75 per share. The payment will take place from January 12th 2021 ;
• An extraordinary distribution of an amount to be withdrawn from the “optional reserves” item for a total amount of MAD 1,416,552,833.25 with option of payment in cash or conversion in total or in part into Company shares, i.e. a unit amount of DH 6.75 per share.

Shareholders are also convened to an Extraordinary General Meeting on December 21st to deliberate on:

• The authorization to increase the par capital for a maximum amount of MAD 1,416,552,833.25, issue premium included, to be paid up by optional conversion (total or partial ) of the sums distributed in shares.

| MOROCCO | DELTA HOLDING | Revenue down 10% at the end of September 2020

In Q3 2020, Delta Holding's revenue increased by 3.2% to MAD 685 Mn. Meanwhile, the Group's revenue fell by 9.8% at the end of September 2020 to MAD 1,819 Mn.

 

ECONOMIC HEADLINES

| TUNISIA | FOREIGN TRADE | Imports in volume down 17% at the end of October 2020

At the end of October 2020, exports and imports in volume recorded respective declines of 13.9% and 16.6% year-on-year. Like-wise, exports and imports prices fell by 0.9% and 4.0% respectively during the same period.

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