Cairo – Mubasher: The board of directors of Amer Group Holding gave go-ahead to buying 125 million treasury stocks at EGP 0.43 per share.
This move aims to enhance the company’s shares market price after its recent unjustified drop, said Mansour Amer Chairman and Managing Director in exclusive statement to Mubasher.
The company offered to buy the treasury stocks at EGP 0.43 per share, up 22.8% from the shares closing price in 18 January 2016, which comply with the law and cancel the need to present a report prepared by an independent financial advisor, noted Chairman.
The company posted earlier, a decline of 33.89% to EGP 111.38 million in net profits for the first nine months of 2015, compared with EGP 168.48 million for the same period of the previous year.
