Dec 17: General for Land Reclamation will convene OGM & EGM meeting

Updated 11/23/2016 4:57:22 PM

Arab Finance: General Company for Land Reclamation, Development & Reconstructions (AALR) called ordinary and extraordinary general assemblies to be convened on December 17.

OGM will review ratifying the financial results for the fiscal year 2015/2016.

Moreover, EGM will discuss extending the company’s activity, as well as reduce delayed losses by LE4,900,177 and transferring the delayed losses for the coming years.

EGM will also review ratifying the procedures of selling 5 acres in Dar ElSalam at LE4600 per meter, with a total value of LE96.600 million.

It is worth mentioning, the company posted profits of LE4,900,177 in fiscal year 2015/2016, as the delayed loss was amounting to LE286,886,099, and then it will amount to LE281,985,922.