On Sunday, July 30, Beltone Financial Holding signed a memorandum of understanding (MOU) to acquire an Egyptian Company licensed by the Financial Regulatory Authority to practice microfinance activities.
The MOU states that Beltone will carry out a full due diligence process after obtaining the regulatory approvals that are binding to carry out this due diligence in preparation for completing the potential acquisition, whether directly through Beltone or one of its subsidiaries.
All market participants trading in the Company’s shares must take into account that the possible acquisition process may or may not take place because it is dependent on regulatory permissions and due diligence to begin the assessment or acquisition.
The Company will announce the conclusion of the due diligence process immediately after completing the process and obtaining all applicable regulatory approvals.
