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GIZA - Edita Food Industries (EGX:EFID) S.A.E. announced Monday that its board of directors has unanimously approved plans to cancel its Global Depository Receipts (GDRs) program and delist from the London Stock Exchange (LON:LSEG).
The Egyptian snack food manufacturer’s board met on Sunday and authorized the company’s chairman to initiate all necessary procedures for the cancellation, according to a press release statement. This includes signing required documents and notifications with relevant authorities in Egypt and abroad.
The board also approved calling an Extraordinary General Meeting to seek shareholder approval for cancelling the GDR program, which is currently listed on the Official List of the UK Financial Conduct Authority and traded on the London Stock Exchange.
The resolution would also remove Edita from the list of companies authorized to issue GDRs on the Egyptian Stock Exchange (EGX).
The company’s chairman has been delegated to determine the date, location and agenda for the upcoming shareholder meeting, and has authorization to engage Clyde and Co Law Firm’s Cairo and London offices to act on the company’s behalf in the delisting process.
The board also approved minutes from its previous meeting held on May 26, 2025.
Edita, a major player in Egypt’s packaged snack food market, did not provide specific reasons for the planned delisting in its announcement.
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