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Increase the capital of Metallurgical Industries Holding to 3.38 billion pounds

Economic News

Increase the capital of Metallurgical Industries Holding to 3.38 billion pounds

 

 

 

The extraordinary general assembly of the Metallurgical Industries Holding approved increasing the issued and paid-up capital of the company from 3.2 billion pounds to 3.383 billion pounds, and amending articles 6 and 7 of the articles of association, according to what was published by the Egyptian newspaper Al-Waqae.

 

The excess shares amounted to 183657 shares in favor of the National Investment Bank with a nominal value of one thousand pounds per share, and a fair value of 15829 pounds per share, provided that the difference between the nominal value and the fair value as a premium is carried over to the reserves, so that the total capital of the holding company issued and paid is 3.383.657 billion EGP 338,357 shares.

 

The increase approved by the General Assembly headed by Hisham Tawfiq, Minister of Public Enterprise Sector, comes within the framework of implementing a loan contract under the subscription account for the capital of the Metallurgical Industries Holding signed between it and the National Investment Bank, and in light of what the verification committee concluded.