Ezz Steel's major shareholder, Ahmed Abdel Aziz Ezz, has filed a grievance with Egypt's FRA challenging the exclusion of his 68% stake from voting on the company's voluntary delisting, according to a disclosure sent by the FRA to the EGX.
Unofficial Translation of FRA Disclosure:
Under Articles 50 and 51 of the Capital Market Law No. 95 of 1992, a grievance was filed by Mr. Ahmed Abdel Aziz, holding 68% of Ezz Steel. The grievance disputes the exclusion of his shares and related parties' shares from voting in the extraordinary general assembly on voluntary delisting. The FRA will review the grievance on January 22, 2025.
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