**Mall of Engomi and Mall of Cyprus Shareholders Ratify Financial Statements**
On July 30, 2026, shareholders of The Mall of Engomi (ME) Plc and The Mall of Cyprus (MC) Plc convened for their annual general meeting (AGM) at the management offices of the Mall of Cyprus, located on Verginas Street in Strovolos, Nicosia. During this meeting, shareholders ratified the financial statements for the year ending December 31, 2025, and re-elected two directors to their respective boards.
The AGMs for both public companies were conducted concurrently, allowing for a streamlined process in addressing key resolutions. Shareholders approved a total of five resolutions that encompassed the adoption of financial accounts, the appointment of auditors, the re-election of directors, and the determination of remuneration for the board members and auditors.
The audited financial statements, along with the reports from both the directors and auditors, received unanimous approval from the shareholders. This endorsement signifies a vote of confidence in the financial performance of both malls for the past fiscal year.
Deloitte Ltd was re-appointed as the auditor for both companies, ensuring continuity in financial oversight until the next AGM, where the accounts will again be presented to shareholders. This decision reflects the companies' commitment to maintaining rigorous external auditing standards. The board of directors was also given the authority to determine the remuneration for the auditors, a common practice that allows for flexibility in negotiating fees without requiring additional shareholder approval.
In a significant move to maintain leadership continuity, Kypros Hadjistyllis was re-elected as a director for both The Mall of Engomi and The Mall of Cyprus. His re-election underscores the shareholders' confidence in his contributions to the boards. Similarly, Siphamandla Joseph Mbonane was also re-elected, further solidifying the existing leadership structure as the companies prepare for the upcoming financial year.
The remuneration for the directors was established during the AGM, providing a clear framework for compensation following the re-elections. This aspect of the meeting is crucial as it sets the financial parameters for board members, ensuring that their contributions are appropriately recognized.
The successful ratification of the financial statements and the re-election of directors are positive indicators for both malls as they continue to navigate the retail landscape. The meetings reflect a collaborative effort among shareholders to support the ongoing growth and stability of The Mall of Engomi and The Mall of Cyprus.
As both companies move forward, the decisions made during this AGM will play a pivotal role in shaping their strategic direction and operational effectiveness in the coming years.