Emaar Misr allows non-executive board members to contribute to similar companies

The decision includes companies that operate in the same activity as Emaar Misr or in activities that complement the company’s activity either directly or indirectly

  
A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

REUTERS/Mohamed Abd El Ghany
Cairo –  The ordinary general meeting (OGM) of Emaar Misr for Development approved a decision to allow non-executive board members to invest, manage, and serve as executive or non-executive board members of other companies.

The decision includes companies that operate in the same activity as Emaar Misr or in activities that complement the company’s activity either directly or indirectly, the company said in a bourse disclosure on Wednesday.

In the first half (H1) of 2021, Emaar Misr for Development logged net profits of EGP 1.33 billion, up from EGP 656.55 million in H1-20, including minority shareholders' rights.

Source: Mubasher

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