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Shareholder claims to fine ICMI chairman because of delaying OGM

Shareholder claims to fine ICMI chairman because of delaying OGM

ArabFinance: International Company for Medical Industries (ICMI) said the shareholder, Mohamed Ibrahim Nadeem has filed a direct misdemeanour against the chairman of ICMI because of not holding the general assembly meeting on March 31, 2018.

Nadeem has alleged that not holding the ordinary general assembly meeting (OGM) affected him negatively, however, the Company had announced delaying the OGM to April 30, 2018. 

The Company said in a statement sent to Egyptian Stock Exchange (EGX), the shareholder claimed to fine the chairman of LE2,000, alleging that chairman cancelled general assembly meeting deliberately, adding the shareholders in subscription have not the right to attend OGM that was allocated to discuss FY2017 financial statements. 

It is worth to mention, the OGM has been delayed over the request of shareholders who subscribe to the capital increase that amounts LE12,189,788. As they shares will not enable them to attend the OGM and contribute to the suggestions for the Company future plan. 

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