By Ahmed Allam

Cairo-Mubasher: Extracted Oils postponed its extraordinary general meeting (EGM), which was scheduled for 22 October, due to lack of quorum.

The meeting will be convened on 5 November, to discuss amending article No. 5 of the articles of association related to setting the company's term at 50 years starting from 27 February 1999.

The company posted net losses of EGP 2.3 million for the fiscal year ended 30 June 2015.

The oil producer operates with nearly EGP 157.2 million in issued capital, divided into 157.2 million shares at a par value of EGP 1 each.

Translated by Abdul Maguid Aboshahla