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Qalaa Holdings explains Chairman’s travel ban situation

Qalaa Holdings explains Chairman’s travel ban situation
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Qalaa Holdings
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Cairo – Mubasher: Qalaa Holdings said on Monday that the company’s Chairman Ahmed Heikal was informed that his name appears on the travel ban list.

In a disclosure to the Egyptian Exchange (EGX), Qalaa said that this happened as the chairman was embarking on a business trip last night to attend the board meeting of a subsidiary company in Sudan.

Furthermore, the company’s legal department investigated the matter today and found that it was a result of an absentee first-degree court ruling related to a commercial dispute pertaining to a $4 million check.

The company also said that the ruling is currently being contested.