Cairo – Mubasher: Egypt for Poultry’s extraordinary general meeting (EGM) on Wednesday approved to cut issued and paid-up capital to EGP 85.14 million from EGP 94.6 million through cancelling treasury stocks.
The EGM approved making amendments to Article 6 and 7 of the company’s main statute, Egypt for Poultry added in a statement to the Egyptian Exchange (EGX).
The EGX-listed firm said that its board of director agreed on reducing issued and paid-up capital to EGP 85.14 million from EGP 94.6 million.
The company’s capital amounts to EGP 94.6 million distributed over 47.3 million shares at a nominal value of EGP 2.
Egypt for Poultry’s stock closed Tuesday’s trading session down 0.4% to EGP 2.48.
