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English news

19-Jan-2017

Juhayna BoD: No bearing on company from decision to add Chairman's name to terrorist list 

Juhayna's BoD issued a statement in reference to media reports of a Criminal Court verdict issued on 12 January 2017 to include the company’s Chairman & CEO Safwan Thabet on a terrorist list for three years, confirming that the decision has no implication on or relation to Juhayna. Accordingly, the company’s operations continue normally, with no bearing on its relationship with governmental and non-governmental entities. Thabet was neither officially notified of the decision nor was he made part of procedures prior to its issuance. Additionally, he has not been questioned or charged and was will take all the necessary legal action for an appeal once formally notified of the verdict. Moreover, Thabet was recently informed by the State Commissioners Authority of the invalidity of the decision previously taken to confiscate his assets. (Company disclosure)    Juhayna: EGP5.87 as of 18 January 2017, Rating: Buy, TP: EGP7.00 per share, MCap: USD297mn, JUFO EY / JUFO.CA  

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