Amer Group Holding announced increasing issued capital to EGP 1.4 billion from EGP 547.145 million. The EGP 820.718 million increase will be financed from reserves as shown on financial statements on December 31, 2013.
The company also said the stock par value will be raised from EGP 0.12 to EGP 0.30, while the total number of shares will remain unchanged at 4.6 billion, to shareholders of record till the close of trading on Wednesday, September 10, 2014.
Amer’s extraordinary general meeting had approved on Thursday, July 24, 2014 ratifying a capital increase to EGP 1.367 billion.
Shareholders also nodded to adjusting the stock par value to EGP 0.30.
Articles of incorporation No. 6 and 7 were amended accordingly.
Amer operates with EGP 364.76 million, divided into 3.039 billion shares at EGP 0.12 par value each.