The Clap GB Auto’s (AUTO) stock dropped by 17% after a disclosure stating the general assembly meeting’s decisions.
The deets The most notable decision was to terminate the company’s board of directors. The assembly agreed on restructuring a new board with Raouf Kamal Ghabour as its head.
The company also decided to distribute a total of EGP 382.9 million in dividends. The dividends will be paid over two installments, EGP 0.10 will be on the 21st of April 2022, and EGP 0.25 on the 29th of September 2022.
Ghabour’s net income recorded EGP 1.89 billion through 2021 compared with EGP 1.11 billion in 2020.