19th Apr 2018 10:39
Notice to Shareholders
Palm Hills Developments to hold Extraordinary Shareholders' Meetings on May 13, 2018
Cairo/London, April 19, 2018: Shareholders of Palm Hills Developments ("PHD" or "the Company") are invited to attend an Extraordinary Shareholders' Meetings on Sunday May 13, 2018 at 3:00 pm Cairo local time, in Novotel Hotel, Laseen ballroom, 6th of October City, Cairo, Egypt, to deliberate on the following agenda:
- Approve an extension of the Employees Stock Ownership Program ("ESOP") in accordance with the ministerial decree number 282 for the year 2005 which amended some of the executive regulations related to shareholding companies, whereby the ESOP was approved by Financial Regulatory Authority on May 14, 2015 at the same terms and conditions.
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About Palm Hills Developments
Palm Hills Developments, a leading real estate developer in Egypt, is a joint stock company established in 1997. Palm Hills builds integrated communities and has one of the most diversified land bank portfolios, spreading over 40.6 million square meters ("sqm") in Egypt, including 5 million sqm in Saudi Arabia. The Company's product offerings include primary homes on both West Cairo and East Cairo, as well as secondary homes by the Mediterranean Sea, North Coast.
As at end of 2017, PHD delivered more than 8,132 units within its developments, including more than 3,480 units in 12 completed projects. Today, PHD has 11 projects under development, 5 projects in West Cairo, 4 projects in East Cairo and 2 projects in the North Coast, in addition to 5 new projects including 4 co-developments, translating into a sales backlog exceeding EGP11.8 billion. PHD is one of the most liquid and actively traded stocks on the Egyptian Stock Exchange, and is traded under the symbol "PHDC.CA". The Company has a GDR listing on the London Stock Exchange, and is traded under the symbol "PHDC.LI". For more information, please visit: www.palmhillsdevelopments.com
Investor Relations Contacts
Mamdouh Abdelwahab
Radwa Abu Elnaga
Tel +202 35351200, Extensions 1504
Related Shares:
PHDC.L