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El Obour Real Estate EGM to tackle capital increase today

El Obour Real Estate EGM to tackle capital increase today
El Obour Real Estate Investment (OBRI) will convene on Thursday, August 21 at 4 pm to discuss and approve increasing the Company’s issued capital through a cash increase of EGP 22 million distributed on 4.4 million shares at par value of EGP 5 per share.

The EGM will also tackle inviting old shareholders to subscribe in the newly-issued shares, and that is in accordance with the rights issue pursuant to the Board of Directors’ decision as at July 12, 2014.

It is worth noting that the OBRI’s current capital is EGP 22 million distributed on 4.4 million shares at par value of EGP 5 per share.

Following the capital increase OBRI’s capital will total at EGP 44 million distributed on 8.8 million shares at par value of EGP 5 per share.