Wrote:
Abdul Qadir Saeed
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Tuesday 24 November 2020
09:19 PM
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The General Assembly of Al-Ahly Club decided to establish a joint stock company for football, in addition to another company for the club’s stadium, whose location and area have been officially determined and approved by the Red Club.
The General Assembly approved the agenda of the Board of Directors announced for the period from July 1, 2019 to June 30, 2020, during the General Assembly meeting held today, Tuesday.
The legal quorum required for discussion, which is 10% of the total members, or 5,000 members at least, was not completed, as only 2,994 members attended, as approved by the judicial committee supervising the general meeting.
The approved official decisions are as follows:
1- Establishing Al-Ahly Football Company as a joint stock company
2- Al-Ahly Stadium Company on an area of 60 acres in the club’s land in Sheikh Zayed, so that the value of the land is the Al-Ahly club’s share in the company.
It was agreed that the ruling share in the companies would be for the Al-Ahly Club, to become the first mass club in Egypt to launch its shareholding companies in accordance with the new sports law, after determining the location and area of the stadium that the fans of the Red Fort have dreamed of years ago.
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