El Saeed Contracting’s EGM nods to EGP 7.1M capital cut
Updated 4/26/2022 12:40:00 PM
ArabFinance: The extraordinary general meeting (EGM) of El Saeed Contracting and Real Estate Investment Company (SCCD) (UEGC) has agreed upon cutting the company’s issued and paid-up capital by EGP 7.13 million, according to a statement filed to the Egyptian Exchange (EGX) on April 26th.
The company’s issued and paid-up capital is set to decrease to EGP 761.915 million from EGP 754.785 million through writing off 7.13 million treasury shares at a nominal value of EGP 1 per share.
Moreover, the EGM approved the amendment of Articles 6,7, and 24 of the company’s Articles of Association.
El Saeed Contracting is an Egypt-based company engaged in the provision of general and specialized contracting and construction services.
The company’s activities are structured into three divisions: contracting, gravel quarries, and real estate.
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