Edita’s EGM OKs capital cut via writing off treasury shares

Updated 11/27/2023 9:34:00 AM
Edita’s EGM OKs capital cut via writing off treasury shares

Arab Finance: Edita Food Industries’ (EFID) extraordinary general meeting (EGM) has approved decreasing the company’s issued capital via writing off 23.045 million treasury shares at a par value of EGP 0.20 per share, according to a statement on November 27th.

Thus, the capital shall be trimmed to EGP 140.003 million from EGP 144.612 million.

Founded in 1996, Edita is an Egypt-based leader in the packaged snack food market that operates within the manufacturing, marketing, and distribution of a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.

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