Approval of capital increase

The Egyptian Exchange (EGX) has announced today (Thursday March 8, 2018) that the Egyptian Financial Regulatory Authority (FRA) has approved the disclosure statement filed by Madinet Nasr for Housing and Development (MNHD) company in accordance with Article (48) of EGX Listing Rules to proceed with a capital increase based on MNHD BOD's resolution dated 25 February 2018 to approve a capital increase from EGP 997,100,389 to EGP 1,150,000,000 with a stock dividend of 152,899,611 ordinary stocks of nominal value of EGP 152,899,611; from the net profit for the year ended 31 December 2017.