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ISMQ’s OGM nods to FY 2020/2021 financial statements

ISMQ’s OGM nods to FY 2020/2021 financial statements

ArabFinance: The ordinary general meeting (OGM) has endorsed Iron and Steel for Mines and Quarries’ (ISMQ) financial statements for fiscal year (FY) 2020/2021, with a net profit of EGP 5.546 million, according to a statement filed to the Egyptian Exchange (EGX).

Moreover, the OGM has approved the proposed cash dividends for FY 2020/2021, while transferring a sum of EGP 4.636 million as retained earnings.

On the other hand, the company’s extraordinary general meeting (EGM) has agreed on the amendment of the Articles of Association in accordance with the adjustments seen by Law No. 185 of 2020 and the executive regulations No. 948 of 2021 issued by the Prime Minister.

It is worth noting that ISMQ is a demerging company from Egyptian Iron and Steel (IRON).

 

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