Usama Heikal: We are making great efforts to restore shareholder rights in media production

Usama Heikal: We are making great efforts to restore shareholder rights in media production

The Egyptian Company for the Twenty-second Media Production City (EGM) agreed on the report of the company’s board of directors for the fiscal year 2017 and approved its financial statements as well as the report of the auditors and the report of the Central Auditing Organization. The assembly was held under the chairmanship of Usama Heikal, Chairman of the Egyptian Company for Media Production City, in the presence of shareholders, representatives of the founders and members of the Board of Directors. Heikal reviewed the most important achievements in 2017, including a net profit of LE 54.6 million. Among the important achievements of the Chairman of the Board was the contract with Abdul Mohsen Al Hokair Group in Saudi Arabia for granting the right to use the Magic Land entertainment system for a thirty- With an investment of US $ 30 million. Among the important topics referred to by the structure of the Council of Ministers approval to grant the production city the authority to issue approvals for the filming of foreign films international, a long-awaited step, which contribute to attract investments through the filming of foreign films through the city one-stop system, which offers many privileges and administrative facilities . “There are many promising plans this year that will bring tangible benefits to all stakeholders, including the establishment of a new 750-square-meter studio and an additional 1,500 square meters of administrative space that will be leased to maximize the company’s revenues.” To preserve the rights of shareholders who have been subjected to a lot of injustice in previous periods. At the end of the Assembly held a friendly meeting with a number of shareholders in the company listened to their proposals and opinions to promote the company. The shareholders expressed their great appreciation to the Chairman and members of the Board of Directors for their efforts to restore the shareholders’ equity and their confidence in the company’s policies under the current administration, which is working to maximize the city’s resources and restore it to its natural position, the region’s largest media hub.

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