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The stock exchange listing committee approves the voluntary delisting of Assiut Islamic Trading shares

The Securities Listing Committee on the Egyptian Stock Exchange decided, in its session held yesterday, Wednesday, to approve proceeding with the procedures for delisting the voluntary listing of the shares of the Assiut National Islamic Company for Trade and Development, with a capital of 66.8 million pounds distributed over 6.7 million shares with a nominal value of 10 pounds per share, in the listing schedule. The Egyptian Finance Ministry "shares", provided that the shares of those who wish to sell are bought from the shareholders who object to the optional delisting decision and who did not respond to the purchase offer at a price of 28.5 pounds.


The Listing Committee directed the opening of the special operations market to implement the purchase process for the shares of the objectors in accordance with Article (55) of the listing rules and what was stated in Article (74) of the executive procedures of the listing rules, and to transfer the trading of the company’s shares to List (D) in accordance with the regulations regulating this in light of the fact that The company will proceed with the voluntary write-off procedures until the completion of the de-listing procedures, as of the beginning of the trading session on Sunday, June 20.


The committee also decided to restrict the reduction of the issued capital of the Palm Hills Development Company from 6.24 billion pounds to 6.16 million pounds, with a reduction of 72.7 million pounds, by executing the 36.35 million treasury shares that appear in the financial statements on December 31, 2020, and to list the company’s shares after The discount on the database is effective from the beginning of the trading session on Monday, June 21.


Reducing the authorized capital of Al Shams Pyramids for Hotels and Tourist Establishments from $360 million to $245.7 million, in implementation of Article (10) of the rules for listing and writing off securities amended by Financial Supervisory Authority Resolution No. 138 of 2020 issued on August 31, 2020, with Alert the company to take into account the future compliance with the provisions of Article (26) of the registration rules and Article (26) of its executive procedures and their amendments.


Meanwhile, the Egyptian Stock Exchange announced that MM Group for Industry and International Trade presents shares listing documents to increase the issued and paid-in capital from 479.5 million pounds to 599.4 million pounds, an increase of 119.9 million pounds distributed over 193.4 million shares with a nominal value of 0.62 pounds per share, financed by Shareholders’ share of the profits for the year according to the financial statements on 31/12/2020, and that the documents submitted by the company are being examined and completed to be submitted to the Listing Committee.