Cairo – Mubasher: Orange Egypt for Telecommunications said Sunday that its extraordinary general meeting (EGM) will discuss on 29 March the company's business continuity, as losses exceeded 50% of the capital.
On the same day, the ordinary general meeting (OGM) will look into the company’s financial statements for fiscal year 2016, according to a bourse statement.
The company’s unaudited consolidated financial statements for FY16 showed a net loss worth EGP 2.55 billion, compared to a net profit of EGP 10.4 million for 2015.
The stock ended Thursday’s session rising 0.86% to EGP 84.72.
