Speed Medical (SPMD) is down 32% over the past two trading sessions. Here are the company’s recent developments:
Four days ago4️⃣ SPMD released a statement denying the rejection of an EGP 20 million settlement regarding the company’s abandonment of the acquisition of Prime Speed Labs.
Two days ago2️⃣ SPMD released another statement stating, “Regarding the rumors circulating on social media platforms regarding investigations with the Chairman of the Board of Directors [Mahmoud Lashin] of the company, Speed Medical denies all these rumors, & that he is currently in his office & doing his work normally.”
Yesterday1️⃣ the company released a disclosure stating that Lashin sold EGP/49.44 million worth of SPMD shares at an average price of EGP 1.495/share. The sale decreased his stake in the company by almost 3%, from 27% to 24%.
