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Juhayna Food Industries (JUFO.CA) stated that the decision of travel ban imposed on its CEO Safwan Thabet is precautionary due to investigations about claim of a firm he was previously a shareholder in it.
The company added, in a release sent to the Egyptian Exchange (EGX) that, Thabet was personally sharing in this firm in 1996 with 3 % stake and a non-executive board member then he sold his stake and quit the board in 2004.
Juhayna asserted that, this firm is not one of its affiliates.
