The shareholders of the Egyptian Stock Exchange are awaiting 6 major events this week, the first trading week after the Eid al-Adha holiday, most notably the convening of the general meeting of a number of major listed companies, including Fawry for Banking Technology and Electronic Payments, Citadel Financial Consulting, and South Valley Cement.
The Giza General Company for Contracting and Real Estate Investment will begin the events of the Stock Exchange, tomorrow, Sunday, with the holding of the Ordinary General Assembly to consider the approval of the sale, assignment and financial leasing of the entire land and building of lands Nos. Al-Kil 24.05 and 24,190 Katameya Desert Road, with an area of 33,600 square meters under deficit and increase in favor of EFG Hermes for Financing Solutions, and authorizing the CEO and Managing Director to sign sales contracts and financial lease contracts.
The Assembly is also considering the approval of the Board of Directors, on June 12, to create a guarantee for the Upper Egypt General Contracting and Real Estate Investment Company, in order to guarantee its obligations with the National Bank of Qatar, resulting from granting it a letter of guarantee limit of 56.4 million pounds.
On the following day, the Extraordinary General Assembly of the Export Development Bank of Egypt will be held to consider amending Article 5 of the Articles of Association in light of what resulted in the subscription to increase the bank’s capital by two billion pounds. Shareholders’ request to present the obstacles facing the cement sector in Egypt from energy problems and their negative effects, the high cost, the low demand for the product, the problems facing the company, the legal position of the company’s requests and the available solutions.
On Monday, EFG Hermes Holding, the right to distribute the bonus shares resulting from the company’s capital increase, and distributing the bonus shares at 0.2000 shares for each original share before the increase on Tuesday, July 19, ends with the reparation of the fractions in favor of the small shareholders.
The week concludes on Wednesday, July 20, with the holding of the Ordinary General Assembly of Fawry for Banking Technology and Electronic Payments to approve the appointment of two new members representing Alpha Oryx Limited. Shareholders, amending the company’s name and amending the text of Article 2 of the contract and the company’s articles of association in light of this, and transferring the company’s headquarters and amending the text of Article 4 of the contract and the company’s articles of association in light of that.