Saudi Egyptian Investment & Finance invited shareholders to attend ordinary and extraordinary general meetings on Sunday, October 12, 4:00 p.m. and 5:00 p.m. respectively at head office.
The ordinary general meeting will look into selling part or all of the company’s equity in Arab Dairy Products Co.
They will also discuss authorizing the board to donate EGP 1million to ‘Long Live Egypt’ fund.
The EGM will discuss reducing the stock par value to $4 from $10; thus raising the total number of the company’s shares to 5 million from 2 million, with the aim of complying with the new listing rules.
The company had posted EGP 26.326 million net profit for the first half of FY14, compared with EGP 4.196 million net profit reported in the same period a year earlier.
The company operates with $10 million issued and paid-in capital, divided into 1 million shares at $10 par value each.