Cairo – Mubasher: Egyptian Modern Education Systems will hold its extraordinary general meeting to look into raising the company’s issued capital from EGP 8.89 million to EGP 16 million through 8-for-10 bonus shares’ distribution, according to a bourse filing on Monday.
The top-up will be financed from the earnings registered in the financial statements for the period ended 30 June 2015, the bourse statement revealed.
Along with amending articles no. 6, 7, and 54 of the memorandum, the extraordinary meeting will consider buying a new asset worth EGP 29 million.
Over the fiscal year, the company earned EGP 4 million, higher 115% year-on-year EGP 1.8 million.
The company operates with EGP 8.89 million, divided into 8.89 million at EGP 1 each.
