Cairo-Mubasher: The shareholders of North Africa Company for Real Estate Investment gave the go ahead to reduce the company’s capital through cancelling treasury shares, according to a bourse statement.
The shareholders also approved amendments to articles no.6 and no.7 of the memorandum to cut the company’s issued and paid-up capital from EGP 34.37 million to EGP 34.12 million, a decline by EGP 250,000 worth of 1.25 million treasury shares.
Treasury shares should not be held for more than a year as per EGX regulations.
