Cairo – Mubasher: The extraordinary general meeting (EGM) of Pyramisa Hotels and Resorts approved reducing the company’s issued capital to EGP 420 million from EGP 432.17 million.

The EGP 12.17 million capital reduction will be distributed among 608,659 shares at a par value of EGP 20 per share, according to a bourse statement.

The capital cut will be carried out by cancelling 608,659 treasury shares.