The securities listing committee of the Egyptian Exchange (EGX) approved on July 24 a request from Delta Printing & Packaging to reduce the stock par value to EGP 5 from EGP 10; thus raising the number of the company’s total shares to 5.6 million from 2.8 million. Meanwhile, the capital will remain unchanged at EGP 28 million.
The decision of the par value reduction was taken by the extraordinary general meeting dated June 8.
According to the company’s statement, the stock will trade with the old par value till the close of trading on Wednesday, August 6 and will start trading with the new par value as of the start of trading on Thursday, August 7, 2014.
The company’s board had endorse financial highlights for Q1-14, which mirrored a 42% fall in net profit to EGP 2.8 million, compared with EGP 4.8 million in the same period a year earlier.