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The Stock Exchange fined South Valley Cement and Remco EGP 10,000


The Listing Committee of the Egyptian Stock Exchange decided, in its session held today, Thursday, to sign a financial commitment of 10,000 pounds on each of South Valley Cement and Remco for the establishment of tourist villages, for the first violation of the provisions of Article 28 and Article 34 of the rules for listing and delisting securities, and the second violation of the provisions of Article 47 of the The rules for listing and delisting securities, in light of the provisions of Article 64 of the executive procedures for the rules for listing and delisting securities.

The committee also decided to divide the nominal value of the share of Kafr El-Zayyat Pesticides and Chemicals Company, from 10 pounds per share to 1 pound per share, so that the company’s issued and registered capital of 120 million pounds is divided into 120 million shares instead of 12 million shares with a nominal value of 1 pound per share. the one.

The Listing Committee on the Stock Exchange decided to alert 3 companies, which are Wadi International for Investment and Development, Golden Coast Sokhna for Tourism Investment, and Al-Mohandes Insurance, taking into account the provisions of Article 31 of the rules for listing and delisting securities and Article 45 of the executive procedures for the rules for listing and delisting securities in the future.

Article 31 of the rules of listing on the Stock Exchange states that the company whose securities are listed on the Egyptian Stock Exchange shall be committed to providing the Authority and the Stock Exchange with the decisions of the Ordinary and Extraordinary General Assembly immediately after its completion and at a maximum before the start of the first trading session following the end of the meeting. The meeting of the General Assembly with the minutes, provided that they are approved by the Chairman of the Board of Directors.

Provided that the company is committed to providing the stock exchange with the minutes of the meetings of the General Assembly approved by the competent administrative authority, within a period not exceeding 3 working days from the date of its receipt.

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