Allowing the Suez Bags ( SBAG.CA) to Go through the Procedures of the Voluntary De-listing.
The Listing Committee held on 2019/10/01 has approved to allow the Suez Bags, to go through the procedures of the voluntary de-listing , where its listed capital amounted to EGP 21,870,000 million distributed over 10,935,000 shares, with par value of EGP 2 per share, after purchasing shares of the protested, aggrieved shareholders, in consideration of the free float percentage of 6.83989 % of the company's issued shares and its 175 total number of shareholders , referring to the statement received from "MCDR" , dated 12/09/2019 , where the related transactions should be carried out before removing the listing data of the company from EGX database, according to article no. (55) , of the listing rules, article no. (74) of its Executive Regulation, concerning the voluntary de-listing.
Furthermore:-
? Suspension of trading on the shares of the company which started as of 05/05/2019 trading session ,will be continued.
? The share purchase transactions shall be executed using the same price of the tender offer that executed on the stock exchange in 02/08/2018 of EGP 26.01 per share , as it is higher than the price resulting from the study of the share fair value of EGP 21.56 .
? The company shall also publish a related announcement in two widespread dailies including the details of such purchasing procedures, In accordance with the dates indicated thereby, in the light of the voluntary de-listing rules and regulations.
? The final de-listing of the company’s shares shall be brought before the Listing Committee after the execution of the related transactions of purchasing shares of all the protested and aggrieved shareholders.
Furthermore:-
? Suspension of trading on the shares of the company which started as of 05/05/2019 trading session ,will be continued.
? The share purchase transactions shall be executed using the same price of the tender offer that executed on the stock exchange in 02/08/2018 of EGP 26.01 per share , as it is higher than the price resulting from the study of the share fair value of EGP 21.56 .
? The company shall also publish a related announcement in two widespread dailies including the details of such purchasing procedures, In accordance with the dates indicated thereby, in the light of the voluntary de-listing rules and regulations.
? The final de-listing of the company’s shares shall be brought before the Listing Committee after the execution of the related transactions of purchasing shares of all the protested and aggrieved shareholders.
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