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Record date for Univert capital top-up Oct. 21

Record date for Univert capital top-up Oct. 21
Univert
UNFO
770.97% 0.31 2.39
Today, Tuesday, Oct. 21 is the record date for Univert Food Industries capital increase which will run from Oct. 26 until Nov. 24.
The company aims to raise its issued and paid-in capital by EGP 20.4 million to EGP 80 million from EGP 59.6 million.
The rights issue may close before the deadline if completely subscribed.
The capital increase will be divided as follows: 1- EGP 10,212,932 in cash through a rights issue at 0.34 share per each held share. 2- EGP 10,187,068 from accounts payable as shown on financial statements on April 30. The capital increase will go for financing the company’s two pastry production lines. It will be effected at stock par value plus EGP0.02 issue costs per share. Meanwhile, shareholders rejected trading subscription rights. They authorized the board chairman to amend articles of incorporation No. 6 and 7.
Univert posted EGP 110.7 thousand net profit for Q1, against EGP 773 thousand net loss in the same period a year earlier. The company had logged EGP 825.76 thousand net loss in FY13, versus EGP 287.091 thousand net profit a year earlier.