ArabFinance: National Housing for Professional Syndicates (NHPS) said General Authority For Investment & Free Zones (GAFI) rejected documenting the Minutes of Meeting (MoM) of the ordinary general assembly (OGM) that was convened on March 28, 2018.
The Company added in a statement sent to Egyptian Stock Exchange (EGX), GAFI stance backed to the company had not invited the shareholders in the determined period according to article NO. 203 of law no. 159 of 1981.
The Company said it has not informed of law amendment, in which it had invited the shareholders according to the previous terms.
It is worth to mention, the OGM that convened on March 28, 2018, approved selling the Company apartments in Alexandria.