By: Ahmed Allam
Cairo – Mubasher: The Beltone Financial Holding appeal against the Egyptian Exchange (EGX) regarding the suspension of its trading on its stock has been adjourned, Sherif Samy, chairman of the Egyptian Financial Supervisory Authority (EFSA) told Mubasher on Tuesday.
The delay is due to EFSA’s grievances committee chief being ill, he said.
Reviewing the lawsuit was supposed to take place today, Samy said, adding that the new date for the process is still unknown.
Another date for reveiwing the lawsuit will be decided soon, former EGX chairman Atef El-Sherif told Mubasher.
El-Sherif, who is a Beltone consultant and the founder and CEO of El-Sherif Law Firm and Consultants, filed two lawsuits on behalf of Beltone against the EGX and EFSA chiefs in response to the repeated cancellations of trades on the company’s shares.
EGX chairman Mohamed Omran took several consecutive decisions lately to suspend trading of Beltone’s stock following recurrent gains on the stock.
Translated by: Moslem Ali
