ArabFinance: Raya Contact Center (RACC) announced that its board of directors approved to cut the company’s capital by EGP 2.84 million through writing off 5.687 million treasury shares in accordance with Article 48 of the Egyptian Exchange’s (EGX) listing rules, according to a statement filed to the Egyptian Exchange (EGX).

Moreover, the board agreed on assigning the chairman or the managing director to call for holding the extraordinary general meeting (EGM) to discuss the amendment of Articles 6 and 7 of the company’s Articles of Association.

It is worth noting that the company purchased 10.4 million treasury shares during the period from March 18th to September 7th.

The board also approved the signing of a three-year term netting contract with Gulf Customer Experience (Gulf CX).

Raya Contact Center is an Egypt-based company engaged in the provision of business process outsourcing services. Its services are structured into four divisions: contact center, back office, inside sales, and professional services.