Cairo – Mubasher: The extraordinary general meeting (EGM) of Edita Food Industries has approved the issued capital cut by cancelling 2.3 million treasury shares with a nominal value of EGP 460,892.
Following its reduction from EGP 145.07 million, the issued capital will amount to EGP 144.611 million distributing over 723.05 million shares, according to the company's disclosure to the Egyptian Exchange (EGX) on Monday.
The EGM also approved the renewal of the company's term for 25 years.
It is noteworthy to mention that in 2020, the company's consolidated net profits fell by 15.2% year-on-year (YoY) to EGP 347.72 million, compared to EGP 410.23 million, including minority shareholders’ rights.
