Time plan for companies results to increase financial transparency

The bourse administration has already completed a plan comprising time-schedules concerning dates expected by the companies registered at the bourse on their annual and quarterly activities of 2000/2001. Coordination has been taken with those companies to set the related dates, so as to get dealers with the stock exchange, informed over the period from January up to next April.

Such step is to be followed for the first time in the Egyptian financial market as part of the policy performed aiming at achieving utmost degree of transparency through providing all kinds of data. This action also aims at putting an end to the rumors on that issue and helping investors take their decisions on proper bases. It will assist them as well in preparing their future investment plans.

Sameh al-Torgman, chairman of Cairo and Alexandria bourses said the set dates are so flexible that a certain week is fixed in the month each company is expected to finish its financial lists and declare them. He said there will be periodical follow-up to determine which date is set to announce the results and any amendments that might occur in due time.

The plan will deal with 23 companies which offered to cooperate with the bourse administration, the volume of whose financial circulating papers amount to about 90% of the total circulation volume.