Cairo – Mubasher: Egyptian Resorts Co’s board of directors has approved an EGP 106.28 debt settlement with one of the investors.
Accordingly, the investor will be exempted from paying any dues for acquiring a stake in the company’s subsidiary Sahl Hasheesh for Touristic Investment, according to a statement to the Egyptian Exchange (EGX) on Thursday.
It is worth noting that Egyptian Resorts Co posted it had turned to loss of EGP 75.23 million in 2018, against a profit of EGP 69.46 million in 2017.
The company logged EGP 126.3 million in revenues for the full-year ended 31 December 2018, versus EGP 281.06 million in 2017.
