Lecico Egypt E : AGM result

Press Release

AGM Results

Lecico Egypt announces no dividend for 2019 results

Alexandria, 31 August 2020 - Lecico Egypt, announces the completion of its AGM held at the old Alexandria - Cairo Agricultural Road - El Mahmoudia - Awayed, on Monday, 31st of August 2020 at 8:30 am by electronic convening and remote voting.

The AGM approved the board of director's report, auditors report and the financial statements on the company's activities for the year ended 31 December 2019.

Following the AGM's approval, Lecico will not distribute a dividend for 2019 results.

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31st August 2020

Press Release

About Lecico

Lecico (Stock symbols: LCSW.CA; LECI EY) is a leading producer of export-quality sanitary ware in the Middle East and one of the largest tile producers in Egypt and Lebanon, with over 45 years of experience in the industry and decades of experience as an exporter to developed markets.

Lecico benefits from significant cost advantages in labour, energy and investment costs resulting from its economies of scale and location in Egypt and Lebanon. Lecico's marketing strategy is to use its cost advantages to target the mass market with high quality pieces at competitive prices.

Lecico exports over half its sanitary ware production and has a significant presence in the United Kingdom and other European markets. Most of the Company's exports are done under the Lecico brand, although it also produces for other European brands.

For additional information, please contact:

Taher G. Gargour

Telephone: +203	518 0011
Fax:	+203	518 0029

Visit our website at: www.lecico.com

Forward-looking statements

This release may contain certain "forward-looking statements", relating to the Company's business, which can be identified by the use of forward-looking terminology such as "will", "planned", "expectations", "forecast" or similar expressions, or by discussions of strategy, plans or intentions. Such statements may include descriptions of investments planned or currently under development by the company and the anticipated impact of these investments. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results that may be expressed or implied by such forward-looking statements.

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31st August 2020