Cairo – Mubasher: Shareholders of Egyptian Modern Education Systems Co. gave a nod, in an extraordinary general meeting, to the increase in issued and paid-in capital to EGP 16.9 million from EGP 8.9 million.

The EGP 8 million increase will be effected through the distribution of 8 million bonus shares at EGP 10 par value each at 9-for-10. The increase will be financed from profits as shown on 30 June, 2015 as well as retained earnings of previous years.

The company earlier posted a 115% year-on-year jump in net profit for the fiscal year 2014/15 to EGP 4 million, up from EGP 1.8 million.