The Egyptian Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Eastern Co.
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The disclosure form includes the board of directors’ decision to slash the company’s issued capital by cancelling 20 million treasury shares at a value of EGP 20 million, the FRA said in a statement to the Egyptian Exchange (EGX) on Monday.
The issued capital will be reduced to EGP 2.23 billion distributed over 2.23 million shares from EGP 2.25 billion.
