{"id":601909,"date":"2019-03-13T03:57:50","date_gmt":"2019-03-13T03:57:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/13\/amer-group-minority-shareholders-file-fra-complaint-against-management\/"},"modified":"2019-03-13T03:57:50","modified_gmt":"2019-03-13T03:57:50","slug":"amer-group-minority-shareholders-file-fra-complaint-against-management","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/13\/amer-group-minority-shareholders-file-fra-complaint-against-management\/","title":{"rendered":"Amer Group minority shareholders file FRA complaint against management"},"content":{"rendered":"

<\/a> Amer Group minority shareholders allege stock manipulation ahead of delisting vote: <\/b>Minority shareholders of Amer Group have filed a complaint against the company\u2019s management ahead of a vote to delist the group from the Egyptian Exchange, according to a report in the domestic press<\/a>. The complaint to the Financial Regulatory Authority (FRA) asks the regulator to take action against company founder and chairman Mansour Amer and lead shareholder Mohamed El Amin, alleging they engaged in stock manipulation as they sold some 73 mn shares over the last six months, tanking the share price as they did so, Al Mal reports<\/a>. The complainants want the FRA to unwind the trades and to order an independent fair value study to set the price at which the company will buy out their shares during a planned delisting process<\/a>.<\/p>\n

Background: <\/b>The company\u2019s board called earlier this month for shareholders to vote on March 27 to delist the company's shares from the stock exchange. The FRA decided that only minority shareholders will be able to vote at the meeting<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amer Group minority shareholders allege stock manipulation ahead of delisting vote: Minority shareholders of Amer Group have filed a complaint against the company\u2019s management ahead of a vote to delist the group from the Egyptian Exchange, according to a report in the domestic press. The complaint to the Financial Regulatory Authority (FRA) asks the regulator […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[832,102,72,76,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601909","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-amer-group","tag-capital-markets","tag-enterpriseam","tag-financial-regulatory-authority","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"9f076894-f348-4846-b832-c5e191fa9fa2","is_powered_by":true,"section_story_id":"85d26ae1-a4bb-4a8b-be76-868a083e7ee7","story_type":"1","photo_url":"","photo_position":"above","related_issue":[601898],"teaser":"","voice_url":""},"yoast_head":"\nAmer Group minority shareholders file FRA complaint against management - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/13\/amer-group-minority-shareholders-file-fra-complaint-against-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amer Group minority shareholders file FRA complaint against management\" \/>\n<meta property=\"og:description\" content=\"Amer Group minority shareholders allege stock manipulation ahead of delisting vote: Minority shareholders of Amer Group have filed a complaint against the company\u2019s management ahead of a vote to delist the group from the Egyptian Exchange, according to a report in the domestic press. 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The Financial Regulatory Authority (FRA) had decided that only minority shareholders would\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601564,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/only-minority-shareholders-can-vote-on-amer-group-delisting-fra\/","url_meta":{"origin":601909,"position":1},"title":"Only minority shareholders can vote on Amer Group delisting: FRA","author":"enterpriseam admin","date":"4 March 2019","format":false,"excerpt":"Amer Group\u2019s minority shareholders will be the only ones allowed to vote on the Board of Director\u2019s plan to delist the company\u2019s shares from the EGX, the Financial Regulatory Authority said in a bourse filing. Thursday\u2019s trades on Amer Group and Porto Group were canceled following the announcement.","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602424,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/27\/fra-signals-new-protections-coming-for-minority-shareholders\/","url_meta":{"origin":601909,"position":2},"title":"FRA signals new protections coming for minority shareholders","author":"enterpriseam admin","date":"27 March 2019","format":false,"excerpt":"FRA signals new protections coming for minority shareholders: The Financial Regulatory Authority (FRA) has reportedly signed off on a regulatory change that aims to protect the rights of minority shareholders when companies list and delist shares on the EGX, Al Masry Al Youm reports. 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