Raya Holding for financial investment announced the board directors’ approval upon the submitted proposal from the company’s management about the liquidity and trading ratio of the company in the Egyptian stock market, to split company’s shares among the shareholders. The aim of this procedure is to increase the shareholders base as well as the liquidity ratio for the security of the company; in order to attract investors which will rise its circulation on the trading screens in the Egyptian stock Exchange.
Ahmed Khalil – CEO Raya Holding for Financial investments- illustrates that the proposal aims to increase the performance of shares in the market, it also ensures shares response with the performance development of the company and its subsidiaries. Also, it improves the financial and operational indicators with the different benchmarks.
Therefore, the company’s board of directors unanimously approved the proposal; to encourage and escalate the trading ratio of the Company’s share in the Egyptian stock exchange. The board approved to proceed the procedures of splitting the nominal value of the share which is currently five Egyptian pounds per one share. The rate of division is ten shares per one share, so that the nominal value of each share becomes only fifty piasters.
The board of directors agreed to invite the extraordinary general assembly of the company to consider the issue and amend the company’s statutes. The Chairman of the board is delegated to determine the place and date of the extraordinary general meeting and decide all the necessary legal procedures to guide and spread the call.