Cairo - Mubasher: The ordinary general meeting (OGM) of the Egyptian Modern Education Systems has unanimously approved interest-free financing not exceeding EGP 100 million.
The financing will be granted by the board of directors to start negotiating the company’s expansion, according to a bourse statement on Sunday.
The loan will be paid later by increasing the company’s capital or loans.
During the period from July 2021 to June 2022, Egyptian Modern Education logged net profits of EGP 5.31 million, compared to EGP 5.51 million in the year-ago period.
Revenues of the EGX-listed firm rose to EGP 27.45 million in FY21/22, compared to EGP 27.27 million in FY20/21.
