Photo Credit: Arabianeye-Reuters
Orascom Development Egypt
ORHD
ORHD
Shareholders of Orascom Hotels & Development approved a capital reduction with the value of treasury stocks up to 300,849 shares.
The company's board earlier gave a nod to cutting issued capital from EGP 1.109 billion to EGP 1.108 billion.
Orascom Hotels’ net profits stood at EGP 106.4 million in 2014, against EGP 562.3 million in losses for 2013.
The firm is capitalised at EGP 1.109 million, distributed across 221.9 million shares at EGP 5 par value each.
Source:
Mubasher
