contributors waiting Egyptian Stock Exchange, 6 important events during the sessions of the first week of August, which is the holding of the general assembly of 5 companies, which is Fawry for Banking Technology and Electronic Payments, Cairo Poultry, Palm Hills Construction, International for Medical Industries – IKME, construction and engineering consultancy, in addition to applying the results of the periodic review of market indicators, after applying the new methodology for creating indicators and the criteria for listing and deleting companies therein, to comply with the listing rules regarding the minimum capital for companies in the main market.
The stock exchange’s events begin on Sunday, August 1, with the holding of the Ordinary General Assembly of Fawry for Banking Technology and Electronic Payments, to consider the conclusion of netting contracts, the adoption of the governance report and the auditor’s report on it for the fiscal year ending on December 31, 2020, and the determination of the remuneration of the independent board members and those with Experience for fiscal year 2020.
On Monday, the Ordinary General Assembly of Palm Hills Development and Cairo Poultry will be held. The first is considering a netting contract with the Arab African International Bank, its subsidiaries and sister companies, while the second is considering amending the powers of the board of directors and appointing an independent board member.
On Wednesday, August 4, the Extraordinary General Assembly of the International Company for Medical Industries-IKME will be held to consider the proposal to increase the authorized capital from 100 million pounds to 225 million pounds, and increase the issued capital from 24.2 million pounds to 72.6 million pounds, an increase of 48.4 million EGP distributed over 48.4 million shares, with a nominal value of EGP per share, 2 shares for each original share for the old shareholders, in addition to issuance expenses of 2.5 piasters per share, provided that the increased shares are financed in cash through cash subscription to the old shareholders, with the implementation of priority rights, each according to The percentage of his contribution to the capital, and consideration of approving the trading of the subscription right separately from the original share.
The week concludes with the holding of the Extraordinary General Assembly of the Construction and Engineering Consultancy Company, to consider the adoption of an increase in the issued and paid-in capital from 249.48 million pounds to 299.376 million pounds, and the amendment of Articles 4,6,7 of the articles of association.
And starting from Sunday, the results of the periodic review of the stock market indices will be applied, which includes the exit of 7 companies in exchange for the entry of 6 other companies into the main index EGX30, as well as the EGX30 Capped index and the EGX30 TR index, which include the same components of the EGX30 index, and the exclusion of 15 companies from the stock index. The Egyptian EGX50 EWI index witnessed the entry of 14 other companies, while the EGX70 index witnessed the exit of 23 companies, 5 of which joined the EGX30 index, and the EGX100 index witnessed the exclusion of 18 companies in exchange for the entry of 16 other companies.