Orascom Telecom, the dawn of a new situation in the community of the stock market and sparked the events of the Stock Exchange yesterday on the two brothers, Naguib Sawiris, Samih
To many question marks about the company deal with the exchange. The first is that Orascom Hotels simply by notifying the stock exchange have about what appeared in the media about the escape «Samih» or not quick company responded to the bourse has denied the company «Orascom Development Holding» escape both Naguib Sawiris and his brother, Samih Sawiris, Chairman of the Board of Directors of «Orascom Development Holding - AG ». And made its position, but what happened to the Orascom Telecom company did not send the statement to the Stock Exchange until after the meeting and the company can send the statement amid the session and resume trading on the stock but it did not happen and left investors beat in the dark, even though the stock exchange halted trading on the the arrow. Finally, the company sent a statement stating its position and the company said in response to inquiries about the escape of stock Naguib Sawiris, chairman of the board or not: that he had resigned from the board no longer has to do with executive and non-executive in the company. The company said in a statement received by the stock market after the trading session today to that regarding the disclosure, which was on July 13 last, and which reference was made to form a board without making the changes contained on the formation of the Board of Directors, the company has clarified the matter in the statement as being the adoption of the Board of Directors The new administrative body competent company said it will disclose the fulfillment of models of the members of the Board of Directors immediately after the adoption of financial control to the records of the Board of Directors and the General Assembly .. To this and it seems normal but not normal is that the question being asked the same .. Why the insistence of the company not to send in the timing of the statement and left the market for speculation .. What happened confirms one fact that the company still continues to disregard the stock exchange and investors, while the other event is the extent of legal action the Assembly has adopted the Extraordinary General Assembly of the company «Orascom Telecom Holding» yesterday differences partition contained on the project division of the company and decided by the Extraordinary General Assembly on 14 April 2011 to split the company into two companies, two contributions, namely: Orascom Telecom Holding Company (hardest) and Orascom Telecom, media and technology holding company divided, according to the report prepared by the General Investment Authority on the evaluation of the company, especially as there is a lawsuit brought by some investors about the cessation of the division of a company Orascom Telecom Holding «OT» filed against the General Authority for Financial Control and deferred to the December 17th meeting. It seems that the company is still pursuing the policy of disregard for the minds of investors and the stock market and only what happened yesterday when they ignored the company is responding to queries from the exchange in a timely manner and waited for after the session, which indicates that the company is above the law says Wael copper expert financial markets that «it has become detrimental to the interests ofinvestors in the absence of respect for the big companies of the Stock Exchange ».«Not only this but also the illegality of a public company yesterday evening on the adoption of evaluation in the light of the lawsuit filed by investors of the company and the state of adoption of the financial control of the Assembly will be the disaster, and is expected to be repeated scenario Mobinil when he canceled the judiciary into force display Vmpelakom and purchase of Mobinil, what the situation is ». Delayed the process of disclosure and the company on a common escape Sawiris contributed to the spread according to the word Islam, Abd Al-Aaty technical analyst, said that the disclosure rules the Egyptian Stock Exchange does not regulate any dates for the answer, explaining that the mechanisms to disclose the current is disabled a key in the processes of development and modernization in the capital market and create gaps in multi- in the trading, pointing out that the situation with respect to disclosure rules require a review in more depth because the disclosures of form in many things cause serious damage to shareholders of stock which would require the rewriting system Avsahih deeper so as to ensure the interests of dealers in the money market through a precise definition of what The event is essential, especially as some companies argue that the event is not essential for the delay in the announcement about it. Dr. Ashraf Al-Sharkawi President of financial control that does not support financial control to the record of the General Assembly in months, which includes the resignation of Naguib Sawiris, whether or not to resign does not invalidate the process or not. He said in an exclusive statement to «delegation» that the resignation of legal and financial control does not have any Stan Assembly Resolution on the approval of the resignation of Sawiris. He pointed out that the delay in the provision due to some of the procedures for the President of the Council of the new administration, and control the financial sources that censorship will not adopt a public company's own partition and it Sttal stuck until the pronunciation in the lawsuit filed against the division of the company. He also denied Khaled Bichara, CEO of Orascom Telecom through a public company yesterday and there was no formal offer from the Algerian government to buy Djezzy so far, pointing out that what was published in this regard merely interpretations of the press. He emphasized the desire to keep Orascom Telecom Bjeeza because the market share of 58% of the Algerian market and earnings continues to improve, indicating that the negotiations with Algeria is moving well and resort to international arbitration will be the last option because it prolongs the period of conflict for more than 5 years.
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