Edition:
United Kingdom

Global Telecom Holding SAE (GTHE.CA)

GTHE.CA on Cairo Stock Exchange

4.45EGP
18 May 2019
Change (% chg)

£-0.10 (-2.20%)
Prev Close
£4.55
Open
£4.53
Day's High
£4.56
Day's Low
£4.40
Volume
8,258,824
Avg. Vol
12,291,050
52-wk High
£5.35
52-wk Low
£2.54

Latest Key Developments (Source: Significant Developments)

Global Telecom Updates On Dispute Concerning Sale Of Telecel Globe Limited
Tuesday, 30 Apr 2019 

April 30 (Reuters) - GLOBAL TELECOM HOLDING ::UPDATES ON DISPUTE CONCERNING SALE OF TELECEL GLOBE LIMITED.CO AND NIEL NATURAL RESOURCES INVESTMENTS ENTERED INTO A SHARE PURCHASE AGREEMENT ON 28 MARCH 2013.IN 2019, NIEL COMMENCED ARBITRATION AT LONDON COURT OF INTERNATIONAL ARBITRATION IN RELATION TO DEPOSIT MONIES RETAINED BY CO.SAYS AND IN DUTCH COURTS, NIEL OBTAINED EX PARTE ORDER FREEZING GTH'S BANK ACCOUNTS IN NETHERLANDS AND OTHER PRE-AWARD SECURITY.PLANS TO CONTEST NIEL'S ARBITRATION CLAIMS AND OTHERWISE DEFEND AGAINST ALL PROCEEDINGS AND ACTIONS.  Full Article

Egypt's GTH Board Approves Extension Of Maturity Of $100 Mln Facility Of By VEON
Tuesday, 26 Mar 2019 

March 26 (Reuters) - GLOBAL TELECOM HOLDING ::BOARD APPROVES EXTENSION OF MATURITY OF REVOLVING CREDIT FACILITY OF $100 MILLION OFFERED BY VEON HOLDINGS B. V. .SAYS LOAN OFFERED BY VEON HOLDINGS B. V. MATURING ON 31 MAY 2019 FOR AN ADDITIONAL THREE MONTHS WITH SAME CURRENT TERMS.  Full Article

GTH Board Postpones OGSM Related To Proposed EGP 11.2 Bln Rights Issue
Sunday, 24 Mar 2019 

March 24 (Reuters) - GLOBAL TELECOM HOLDING ::BOARD AGREED TO POSTPONE PLANNED OGSM RELATED TO PROPOSED EGP 11.2 BILLION RIGHTS ISSUE.OGM WAS POSTPONED AFTER VEON PROVIDED A LETTER OF SUPPORT, AS REQUESTED BY GTH, TO ALLEVIATE ITS IMMEDIATE FUNDING REQUIREMENTS.POSTPONED OGM WILL BE HELD ON 26JUNE 2019 IN EGYPT.  Full Article

Veon To Submit Tender Offer For Global Telecom Holding
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - VEON LTD ::VEON HOLDINGS B.V. ANNOUNCES PLAN TO SUBMIT MANDATORY TENDER OFFER IN RELATION TO GLOBAL TELECOM HOLDING S.A.E..PRICE OF EGP 5.30 PER SHARE.AS OFFEROR HAS NOT YET SUBMITTED MTO TO FRA, VEON IS UNABLE TO COMMENT FURTHER ON THIS MATTER..OFFEROR WILL DEPOSIT MTO WITH FRA WITHIN 60 CALENDAR DAYS OF THIS ANNOUNCEMENT..INTENDS TO DEPOSIT A PUBLIC MANDATORY CASH TENDER OFFER FOR PURCHASE OF UP TO 1,997,639,608 SHARES OF GLOBAL TELECOM HOLDING S.A.E ("GTH"), REPRESENTING APPROXIMATELY 42.31%.AS PREVIOUSLY ANNOUNCED, VEON INTENDS TO TAKE GTH PRIVATE FOLLOWING MTO.  Full Article

Global Telecom Board Approves To Convert Outstanding Shareholder Loans Into Equity
Sunday, 13 Jan 2019 

Jan 13 (Reuters) - GLOBAL TELECOM HOLDING ::BOARD APPROVES TO CONVERT OUTSTANDING SHAREHOLDER LOANS OF $370.6 MILLION PLUS ANY ACCRUED INTEREST FROM DEBT INTO EQUITY.SAYS OUTSTANDING SHAREHOLDER LOANS OF $370.6 MILLION PLUS ANY ACCRUED INTEREST IS BETWEEN GTH AS LENDER AND TELECOM VENTURES AS BORROWER.SAYS GTH’S FINANCIAL POSITION AS WELL AS CASH FLOWS REMAIN UNCHANGED AFTER THE CONVERSION AND THIS IS A NON-CASH TRANSACTION.  Full Article

EGX Says Moon Capital Master Fund Sells 34.4 Mln Shares In Global Telecom
Monday, 3 Dec 2018 

Dec 3 (Reuters) - EGYPTIAN EXCHANGE::SAYS MOON CAPITAL MASTER FUND LTD SELLS 34.4 MILLION SHARES IN GLOBAL TELECOM HOLDING FOR EGP 127.5 MILLION.  Full Article

Global Telecom Shareholders Authorize Extension Of Maturity Of $100 Mln Credit Facility
Sunday, 18 Nov 2018 

Nov 18 (Reuters) - GLOBAL TELECOM HOLDING ::SHAREHOLDERS AUTHORIZE EXTENSION OF MATURITY OF $100 MILLION REVOLVING CREDIT FACILITY OFFERED BY VEON HOLDING FOR ADDITIONAL THREE MONTHS (ADDS DROPPED WORD 'MILLION').  Full Article

Global Telecom Updates On Capital Increase
Monday, 12 Nov 2018 

Nov 12 (Reuters) - GLOBAL TELECOM HOLDING ::SAYS NAEEM FINANCIAL INVESTMENTS NOT ABLE TO PREPARE REPORT ON FAIR MARKET VALUE OF CO'S SHARES FOR PURPOSE OF CAPITAL INCREASE.  Full Article

Global Telecom To Increase $100 Mln In Revolving Credit Facility
Wednesday, 9 May 2018 

May 9 (Reuters) - GLOBAL TELECOM HOLDING ::BOARD AUTHORIZED CO'S TEMPORARY ENTRY INTO $100 MILLION INCREASE IN REVOLVING CREDIT FACILITY AGREEMENT WITH VEON HOLDINGS.CREDIT FACILITY IS ON SAME TERMS AND CONDITIONS AS THE EXISTING REVOLVING CREDIT FACILITY AGREEMENT INCLUDES.CREDIT FACILITY HAS AN EXCEPTION OF END DATE FOR TEMPORARY INCREASE WHICH WILL HAVE MATURITY OF NOT MORE THAN 6 MONTHS FROM THE DATE IT IS ENTERED INTO.BOARD INTENDS TO USE TEMPORARY $100 MILLION INCREASE FOR GENERAL CORPORATE PURPOSES.  Full Article

Global Telecom Says Veon Withdraws Offer To Purchase Further Stake In Co‍​
Tuesday, 3 Apr 2018 

April 3 (Reuters) - GLOBAL TELECOM HOLDING ::SAYS MAJOR SHAREHOLDER VEON WITHDRAWS ITS MANDATORY OFFER TO PURCHASE REMAINING STAKE IN CO ‍​.SAYS MAJOR SHAREHOLDER VEON CURRENTLY HAS NO INTENTION TO MAKE MANDATORY PURCHASE OFFER‍​.  Full Article

MIDEAST STOCKS-Banks lift Saudi, Dubai continues to rally on Emirates NBD deal

* Al Rajhi Bank surges after capital increase approval * Dubai continues winning streak for the sixth session * Emirates NBD hovers around 11-year high * Orascom Investment rises on FY result, Nile Sugar acquisition By Ateeq Shariff April 4 Saudi Arabia's stock market marked its ninth session of gains on Thursday, led by banking shares, while Emirates NBD's deal to buy Turkey's Denizbank lifted Dubai's main index. The Saudi index was up 0.9 percent, led b