REG - EZZ Steel Company - Further re Fair Value for Delisting - Board Resol.

Ezz Steel Co SAEAnnouncement

14/01/2025 15:00

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RNS Number : 3048T  EZZ Steel Company - S.A.E.  14 January 2025

 

EZZ Steel Company - S.A.E.

Cairo, 14 January 2025 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD)

 

Ezz Steel Board of Directors convened on 13 January 2025 and approved the
following resolution:

·    To proceed with holding the Extraordinary General Assembly on 28
January 2025, on the basis that the Company acquires the shares of those who
object and those unwilling to remain as shareholders post delisting, and the
shares representing the deposit certificates (GDRs) tradable on the London
Stock Exchange (LSE), in accordance with the provisions of Article (55) of EGX
Listing & Delisting Rules at EGP 138.15/ share, as per the report of the
Independent Financial Advisor "BDO Keys for Financial Consultancy", which was
disclosed on 13 January 2025.

 

Accordingly, the delisting price is higher than the average share price during
the last three and six months preceding the announcement of the Company's
intention to delist by 28% and 40% respectively.

 

 

Investor Relations

 

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