POUL
Cairo-Mubasher: Cairo Poultry Co. said it obtained the approval of its extraordinary general meeting on reducing the stock’s par value to EGP1 from EGP 2 per share.
Shareholders also approved amending articles of incorporation accordingly, the company added in a bourse filing Sunday.
Thus, the company’s total number of shares was raised to 348.4 million from 174.2 million shares. Issued and paid-in capital will amount to EGP 348.4 million.
The company posted previously a 27% decline year-over-year in net profits for 2014 to EGP 170 million.