Cairo – Mubasher: The Board of Directors of Edita Food Industries approved the purchase of treasury shares.
According to the company's disclosure to the Egyptian Exchange (EGX) today, the decision included the purchase of 30 million treasury shares, representing 1.4323% of the company's current issued capital shares, and 1.4399% of the company's issued capital after reducing it by the value of the existing treasury shares balance, following all procedures stipulated in Article 48 of the Listing Rules.
The company explained that the purchase process will be executed through the open market over a period of one month at the market price, with the aim of supporting the market price of the stock, reassuring investors of the company's confidence in the stock's performance, as strong investment returns are expected once the current conditions stabilize.
