EGP Egypt Trust

 
TIDMEGP 
 
 

  The Egypt Trust 

  Shares in Public Hands 

  The Egypt Trust (the "Fund") has recently become aware that, as a result of the quarterly share redemptions offered by the Fund, two shareholders, National Bank of Egypt and Banque Misr (the "Major Shareholders") hold 1,501,315 ordinary shares and 391,384 ordinary shares respectively in the capital of the Fund, representing a combined holding of 92.7 per cent. of the Fund's issued share capital. 

  Listing Rule 6.1.19 states that at least 25 per cent. of a listed company's issued share capital must be held in public hands and that shares held by any person or persons in the same group or persons acting in concert who have an interest in 5 per cent. or more of the shares are not deemed to be in public hands. 

  In accordance with Listing Rule 9.2.16, the Fund has informed the UK Listing Authority ("UKLA") that, given the size of the combined shareholdings of the Major Shareholders, the Fund is currently not able to comply with the shares in public hands requirement and it remains in consultation with the UKLA regarding this issue. 

  The board of the Fund will be considering all possible and appropriate options for redressing the Company's current free float position and will continue to engage with the Major Shareholders in seeking a resolution. The Company will also keep the UKLA and the Fund's shareholders regularly informed of progress in pursuing a resolution. 

  Enquiries: 

 
Arbuthnot Securities Limited     020 7012 2000 
 
 

  Alastair Moreton 

  Hannah Pearce 

Egypt Trust (LSE:EGP)
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Egypt Trust (LSE:EGP)
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