Madinet Nasr for Housing & Develop. Result of Meeting (1134H)

TIDMMNHD

RNS Number : 1134H

Madinet Nasr for Housing & Develop.

22 March 2020

 
                            Madinet Nasr for Housing and Development (MNHD) 
                                            An Egyptian Joint Stock Company 
           Summary of Resolutions of Board of Directors (BOD ) Meeting held 
                                                           on 10 March 2020 
 
       MNHD BOD met on Tuesday March 10, 2020 at 1:00 p.m. at the Company's 
          Sales Center on the site of Taj City project; Extension of Thawra 
       Street- Opposite to the Entry of Cairo International Airport- Cairo, 
                                                                      Egypt 
 
                         The following is a summary of the BOD resolutions: 
                  1. Ratification of the minutes of the prior BOD's meeting 
 
        2. Approving buying of treasury shares up to 2% (28,800,000 shares) 
            of issued capital within three-month in accordance with the new 
                          rules of the Financial Regulatory Authority (FRA) 
 
        3. Authorizing conducting a due diligence of the subsidiary company 
          (Nasr Company for Utilities and Erections "NCUE") for an investor 
           who presented an unbinding offer to buy the entire shares of the 
                                                        subsidiary company. 
 
          4. Discussion of other regular operational and financial subjects 
                                                             of the company 
 
                                                Investors Relations Officer

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