Modern Waterproofing Co. (Bitumode) announced a capital increase from EGP 102 million to EGP 119 million.
The EGP 17 million increase, to be financed from retained earnings, are divided into 17 bonus shares that will be distributed among shareholders as per the decision of the ordinary general meeting dated April 24 ,2014.
According to the company’s statement, bonus shares will be distributed at 1-for-6 as of August 21 to shareholders of record till the close of trading on Wednesday, August 20, 2014.