Cairo – Mubasher: The ordinary general meeting (OGM) of Arab Cotton Ginning approved the appointment of eight board members for a new term.

Mohamed Ali Hussein Ali El-Kaliouby has been named the company’s chairman, according to a bourse disclosure on Wednesday.

Moreover, Mohsen Mohamed Abdul Rahman Hassan has been appointed as the managing director. 

During the first nine months of fiscal year 2019/2020, Arab Cotton Ginning incurred net losses of EGP 65.38 million, against net profits of EGP 18.68 million in the corresponding period in FY18/19.