The extraordinary general meeting of Gulf Canadian Real Estate Investment approved on Wednesday, reducing the stock par value to EGP 6 from EGP 10 with the aim of complying with listing rules.
Accordingly, the company’s total number of shares will be 5 million instead of 3 million.
The company’s financial indicators for Q1-14 had shown EGP 76 thousand net loss, against EGP 486 thousand net profit in the corresponding period a year earlier.