CAIRO - 8 October 2023: The Financial Regulatory Authority (FRA) announced the submission of a compulsory purchase offer presented by Toma Company for Commercial and Industrial Investments alliance with Mr. Maged Samir Touma Thomas (the alliance) to acquire a portion of the capital shares of Dice Sport & Casual Wear.
The FRA stated in a filing to the Egyptian Exchange (EGX) on Sunday that this offer covers 838.14 million shares, representing 46.9 percent of the capital shares of the target company after excluding the shares that will not respond to the purchase offer and the minimum number of freely traded shares.
The cash price is set at LE 0.65 per share in accordance with the provisions of the twelfth chapter of the Executive Regulations of Capital Market Law No. 95 of 1992.
The Financial Supervisory Authority has indicated that it is studying the offer made to the company.
Dice Sport & Casual Wear achieved profits of LE 121.16 million during the period from January to the end of June 2023, compared to profits of LE 25.44 million in the same period of 2022, taking into account minority rights.
The company's sales increased during the first six months of the current year to LE 1.44 billion, compared to sales of LE 903.66 million in the corresponding half of the previous year.
On the non-consolidated financial statements, the net profit recorded LE 125.4 million during the period from January to the end of June 2023, compared to profits of LE 13.6 million during the first quarter of 2022.