Golden Coast Co. said its Extraordinary General meeting has gave a nod to increase the company's issued capital from EGP20 million to EGP50 million.

The EGP 30 million increases, divided into 7.5 million shares at EGP 4 par value each, will be financed through a rights issue.

The company currently operates with issued and paid -in capital of EGP20 million distributed across 2 million shares at par value EGP10 each.