Cairo – Mubasher: The extraordinary general meeting of Electro Cable approved increasing the company’s capital through distributing 1-for-20 bonus shares, according to a bourse filing.

Thus, EGP 26 million will be added to the company’s capital to operate with EGP547.3 million rather than EGP512.2 million.   

Earlier, the ordinary meeting approved FY15 financials, the latest reshape of the board, the discharge of board members from liability, and putting forward the top-up.

The company’s FY15 profits declined 34% year-over-year to EGP27.17 million from EGP41.39 million