The extraordinary general meeting of Reacap Financial Investments approved on Thursday, October 02 the board’s proposal for increasing capital by EGP 150 million to EGP 695.9 million from EGP 545.9 million. The EGP 150 million increase is divided into 30 million shares.
The company currently operates with EGP 545.9 million capital, divided into 109.2 million shares at EGP 5 par value each.
The company’s H1 financial results showed EGP 26 million net loss, narrowing 12% compared with EGP 30 million in the year-ago period.
The company had logged EGP 7.56 million consolidated net loss for Q1-14, narrowing 56% compared with EGP 17.35 million net loss incurred in the same period a year earlier.
Meanwhile, standalone financial results for the same period showed EGP 674 thousand net loss, widening 24% y/y from EGP 544 thousand. FY13 standalone financial results had mirrored a 9.27% rise in net loss to EGP 1.72 million, from EGP 1.57 million in FY12.