The board of Arabia Investments, Development, Financial Investment Holding Co. (AIND) has decided to reduce the company’s capital through the cancellation of 94.4 million treasury shares held for more than one year.
The board also decided to increase issued capital through the distribution of 88.048 million bonus shares at 1-for-5, as per the decision of the company’s ordinary general meeting dated July 27, 2014.
The board also approved the capital increase of Cairo Development and Cars Manufacturing by EGP 100 million. It gave a nod to the capital increase of Rwag Car Trade from EGP 10 million to EGP 30 million.
The company had reported EGP 16.7 million consolidated net profit for the six-month period that ended on June 30, 2014.
The board also decided to increase issued capital through the distribution of 88.048 million bonus shares at 1-for-5, as per the decision of the company’s ordinary general meeting dated July 27, 2014.
The board also approved the capital increase of Cairo Development and Cars Manufacturing by EGP 100 million. It gave a nod to the capital increase of Rwag Car Trade from EGP 10 million to EGP 30 million.
The company had reported EGP 16.7 million consolidated net profit for the six-month period that ended on June 30, 2014.
Source:
Mubasher
