Following the announcement made last week on the Board of Director’s proposal to reduce capital, du [DU.DU] just announced that the proposal includes the cancellation of 38.5mn shares, representing 0.84% of total shares, bringing the total number of shares to 4,533mn from 4,571mn. This is still subject to the approval of the Securities and Commodities Authority, after which, du will invite its shareholders to vote on the board’s decision. The cancelled shares will be part of the long-term employee rewards programme. (Company disclosure)   du (DU): EGP6.15 as of 15 December 2016, Rating: Neutral, TP: EGP6.02 per share, MCap: USD7,661 million, DU UH / DU.DU