Cairo - Mubasher: The ordinary general meeting (OGM) of Naeem Holding for Investments, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), has approved to distribute 1-for-10 basis bonus shares to shareholders for fiscal year 2018.
The bonus shares will be financed from the company’s reserve registered in 2018 financial results, Naeem Holding said in a statement to the Egyptian Exchange (EGX).
The OGM has also endorsed the board’s report on the company’s business last year, according to the statement.
Meanwhile, the extraordinary general meeting has agreed to amend article 50 of the company’s articles of association.
Earlier this month, the dual-listed company posted a net consolidated profit of $294,400 in the full-year ended 31 December 2018, versus $1.2 million in 2017, including minority shareholders’ rights.
At the level of standalone business, Naeem Holding incurred $432,000 in losses last year, against a profit of $1.9 million in 2017.
