El Wadi for International's shareholders okay share split
Updated 7/26/2020 4:14:00 PM
ArabFinance: El Wadi for International and Investment Development’s (ELWA) extraordinary general meeting (EGM) approved share split from EGP 10 to EGP 1, according to the company’s July 26th statement filed to the Egyptian Exchange
On July 25th, the EGM also approved amending articles no. 6 and 7 of the company’s articles of association.
On the same day, the ordinary general meeting ratified the financial statement for the fiscal year 2019 and retained the profit to the upcoming year.
The company posted a net profit of EGP 43,690,756 in 2019, a 27% increase from EGP 34,530,036 achieved a year earlier.
El Wadi, formerly El Wadi Company for Touristic Investment, is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, gymnasium, and sauna...etc.
