The Financial Market Council (CMF) informs the shareholders of “Tawasol Group Holding” and the public that it has invited the company concerned to explain the recent stock market movements observed in its shares.
In response to the Financial Market Council’s letter, the company’s general management has communicated the following:
“…We would like to specify that the exaggerated fall in the share price over the last few years has led to a level that does not reflect the group’s situation and its valuation, which could explain the technical correction.
In addition, we would like to take this opportunity to inform you of the following operational developments:
– Acceleration of the order book for the Pipeline business with the conclusion of two major projects with STEG in November 2020, which will lead to a strong growth dynamic for the division beyond the current fiscal year;
– Enhanced presence in Africa (Morocco, DRC and Ethiopia) with framework contracts combined with an external growth operation in France for the deployment of optical fiber. The combination of these favorable factors guarantees a level of growth for TGH for 2021 and subsequent years.