Arab Finance: The extraordinary general meeting (EGM) of Egyptian Iron and Steel Company passed a resolution extending the company's liquidation period by one year, effective January 1, 2027, or until the completion of the liquidation process, according to a bourse filing.
The shareholders also approved the liquidator's report on the liquidation activities for the period from January 1 to June 30, 2026.
The meeting greenlighted the statement of financial position and the liquidation revenues and expenses account for the first half (H1) of 2026, which recorded a surplus of EGP 210.09 million.
The general meeting urged the liquidator to expedite the completion of the liquidation process and submit a timeline outlining the steps required to finalize the remaining procedures and prepare the final liquidation account.
It also called for the prompt finalization of all outstanding settlements between the company and the Egyptian National Railways Authority, the Egyptian Electricity Transmission Company (EETC), the Egyptian Petroleum Services Company (EPSCO), and the Petroleum Trading Company (Petrotrade).
