Cairo – Mubasher: Delta for Construction and Rebuilding said Thursday that a group of shareholders have brought a lawsuit against the chairman Ali Elba, a bourse statement indicated.

Cairo economic court of appeal will consider the lawsuit on 27 August rather than 27 June 2016, of which the chairman was not notified.

The shareholders asks for annulling the fourth decision taken by the ordinary general meeting on 28 April 2015, which discharged the board members of all liabilities for all actions made in the fiscal year 2014.

Earlier, the Egyptian Exchange approved the company's request to raise its capital from EGP 231.1 million to EGP 256.7 million.

In the fiscal year 2014, the company earned EGP 4.3 million compared with EGP 7.6 million profits a year earlier.

During the second quarter of 2016, profits declined 60.7% year-on-year to EGP 2.73 million ($307,140) from EGP 6.95 million ($780,270).