Cairo – Mubasher: The extraordinary general meeting of Egyptian Modern Education Systems gave go –ahead to increasing the company’s issued capital from EGP 8.9 million to EGP 16.9 million, up by EGP 8 million.

The capital increase of EGP 8 million will distributed across 8 million shares at EGP 1 par value each.

The capital hike will be effected through the distribution of bonus shares at 9 to 10 and will be financed through the earning of the year ended 30 June 2015, in addition to deferred earnings of previous years.

On other hand, the shareholders meeting approved the purchasing of new asset for EGP 29 million, in the framework of expanding the company’s investments.

Egyptian Modern Education saw an increase of 115% to EGP 4 million in net profits for the fiscal year ended 30 June 2015, up from EGP 1.8 million in the previous year.