Listing Committee of the Stock Exchange re-trading on the shares of "Egypt South Africa" ​​on Sunday

Economy and stock exchange

The Listing Committee of the ASE decided on Monday that the period of freezing on Misr Telecom South Africa's shares, either for the original listing shares or the cash dividend shares, should expire after the period for the main shareholders of the Company to retain the shares listed in Article 9, Section 8 Of the rules of registration and cancellation of securities.

The committee decided to resume trading on the shares of Egypt Telecom South Africa, starting from the beginning of trading session next Sunday, with notice to the Egyptian Company for Clearing and Central Depository of the decision of the registration committee to implement its affairs towards the dismantling of the freeze on the shares of the company, unless otherwise frozen.

In a related context, the Committee decided to notify the EFSA of its decision, attached to the notice a copy of the undertaking submitted by the main shareholder Sharif Mohamed Salah Eddin on 31 January 2018 and the previous notice to the Authority, to carry out its affairs on the failure of the major shareholder to fulfill the obligation To be retained, which constitutes the legal violation provided for in Article 63, paragraph 8, of the Capital Market Law No. 95 of 1992.

The committee also decided to sign a financial commitment to the company worth 25 thousand pounds, because the company did not comply with Article 8 of Article 9 of the rules of registration for the shares of cash increase, in light of the pledge made by the main shareholder of the company, which necessitated the continued suspension of trading on the shares of the company, Damage to shareholders, in accordance with the contract to regulate the registration of securities in the Egyptian Stock Exchange, concluded with the company.

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