Cairo-Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has approved a request from Beltone Financial Holding to issue 20.9 million bonus shares at EGP 2 par value each to increase issued capital.
The bonus issue, valued at EGP 41.8 million, is fully paid from retained earnings as per financial statements on December 31, 2013.
The company’s shareholders had approved a proposal for distributing bonus shares for FY13 at 0.5-for-1.
The extraordinary general meeting had endorsed the board’s proposal for raising issued capital from EGP 83.655 million to EGP 125.483 million through bonus share distribution.
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