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EGX decides to limit down Misr Hotels'share price 18.053 %

EGX decides to limit down Misr Hotels'share price 18.053 %

ArabFinance: Egyptian Stock Exchange (EGX) decided to limit down the share price of Misr Hotels (MHOT) 18.053 %, while the temporary halt limit will be about 13.50% of the closing price ending ِthe Oct.-22 session because the cash dividends value is higher than the halting limits.

The Company declared a cash dividend of EGP 5 per share payable on Oct. 27, 2019, moreover, the shareholders as on Oct. 22, 2019, are entitled to cash dividends distribution.

Under EGX's chairman resolution, No. 301 of 2017, regarding the cash dividends' impact on the market price of the stock, stipulating that the interim halt limit and price limits will be calculated on the theoretical price, the last closing price minus the distribution value. Price limits and temporary halt limit up will be kept unchanged, as the distribution value is greater than the applied price limit.

 

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04 Oct 2021
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