Cairo – Mubasher: The board of Misr Cement – Qena nodded for selling 500,000 treasury shares according to a bourse filing.
Further, the board agreed to cancel a preliminary sale contract for land plot with Asec Cement, granting Asec, which is fully owned by Cement – Qena, a lease contract instead.
The board also approved submitting an administrative unit's bought note to the board of Asec Cement for taking the right decision.
The company reported a net profit after tax of EGP36.6 million in Q1-16, compared to EGP81.1 million the year-ago period.
