NUDAP sets due date of share split

ArabFinance: Northern Upper Egypt Development & Agricultural Production (NUDAP) (NEDA) decided to split the par value of its share from ten to one Egyptian pound with maintaining the issued and paid capital unchanged, according to a May 18^thdisclosure filed to the Egyptian Exchange.

On February 16^th, the extraordinary general assembly approved distributing the issued capital over 63,496,550 shares instead of 6,349,655 shares with a par value of one Egyptian pound.

The company said the holders and buyers of the share, who will be recorded on June 1, are entitled to trade the stock after splitting. Moreover, the share will be trading start of June 2.

In 2019, the company posted a consolidated net profit of EGP 3,138,334, versus incurring a loss of EGP 8,809,250 a year ago, taking into account the minority rights.

NUDAP is an Egypt-based public shareholding company that operates in the agricultural sector. The company is primarily engaged in producing and trading agricultural chemicals, such as fertilizers, insecticides and pesticides.

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