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CAIRO – The Egyptian Financial Supervisory Authority (EFSA) has declared that it has rejected the complaint filed by the Portland Cement Company (TORA) for breaching the decision to impose on the company a financial responsibility of 50%. £ 000 for violation of the registration rules.
In a statement issued Monday by the Egyptian Stock Exchange, the company's appeal committee accepted the complaint filed by Portland Cement and dismissed the subject of its impact on the decision of the rating committee of December 6, which includes the Imposition of a financial obligation on the company, which supports financial supervision.
On December 6, the listing committee of the Egyptian Stock Exchange decided to impose a financial commitment to Tora Portland Cement worth £ 50,000, in violation of the provisions of Articles 28 and 34 of the Listing Rules. and suppression of the Egyptian Stock Exchange.
The company posted a net profit of 36.09 million pounds from the beginning of January to the end of December, compared to 545.82 million pounds in 2017.
The company's sales increased last year to LE 1.1 billion at the end of December, compared with LE 988.28 million in 2017.
appointments:
The shareholders of Tourah Cement recognize the continuous activity and temporarily stop the factory
Two factors explain Portland Cement's rise in losses, 268% in the first quarter
How did the Sudan crisis affect Egyptian businesses?
The Egyptian Stock Exchange sent a warning to 66 companies because of the financial statements
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