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.
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