Pegas shares under pressure due to situation in Egypt

Egypt’s army ousted President Mohamed Mursi, the country’s first democratically elected civilian leader, and suspended the constitution in a move it said was aimed at restoring stability. /Pegas shares were under pressure since the beg. of June when unrest in Egypt has been arising. Pegas has invested 64-67 mln. EUR to a new production line in Egypt since 2011 and the new line is to start in 3Q13 increasing a total production capacity of Pegas of 20%. As the production line is insured at EGAP against political risk and we also believe that foreign investments in Egypt should not be in an imminent threat, we consider Pegas shares level as an opportunity to accumulate.