Cairo – Mubasher: The general meeting of Egypt’s leading vehicle assembler GB Auto approved amending number of Articles of the company’s employee’s incentive program.
The amendments came in the form of allowing the employees to sell the stocks through flexible payment schemes, according to the bourse statement.
Earlier, the company’s board approved amending the Articles number 6, 9, 10 and 11 in respect to distributing free stocks.
In January 2015, the company issued capital increase stocks worth EGP 6.44 million at EGP 1 par value per each stock, which was allocated completely to the employees’ incentive program.
