Nile City Investments (NCIN) agrees to proceed with the delisting procedures from the EGX.
More Details🧐 Earlier this month, the EGX notified NCIN that it must proceed with the mandatory delisting of its shares due to the company not extending its legal life which reportedly ends in October 2022. NCIN BoD will review the extension of the company’s legal life next year, which is past the deadline that the EGX imposes, causing the EGX to issue a mandatory delisting order of NCIN.
What If I Own NCIN🤔 The company must purchase freely traded shares from shareholders at a price no less than the fair value determined by an independent financial advisor. NCIN assigned Baker Tilly Consulting to conduct a fair value study of the share.
