In an extraordinary general meeting held on Sunday, shareholders of Vertika Programming Co. approved the increase of issued and paid-in capital by EGP 1.176 million to EGP 2.353 million from EGP 1.176 million.
Shareholders also gave a nod to amending article of incorporation No. 3 to add a new business activity.
However, they rejected the listing or trading of subscription priority rights.
According to the company’s statement, the capital increase will go for adding new business activities including the offering of administrative consultancy services to companies as well as providing technical advisory in the IT sector, selling PC equipment and accessories and building wired and wireless networks.
The company is currently capitalized at EGP 1.176 million, divided into 1.176 million shares at EGP 1 par value each.
FY13 profit had netted EGP 270.2 thousand, with a decline by 14% compared with EGP 315.3 thousand a year earlier.