Cairo – Mubasher: The extraordinary general meeting of Integrated Engineering Group approved amending articles no. 23, 46, and 48 of the memorandum, said the company in a bourse filing.

Earlier, the board of directors approved amending articles no. 6 and 7 of the memorandum to increase its capital to EGP12 million from EGP3 million, distributed over 45 million shares at a par value of EGP0.20 each as per the latest right issue.

In the first quarter of 2016, its profits plummeted 60% year-over-year to EGP 72,800 ($8,200) from EGP 182,000 ($20,500), according to a bourse filing.

During 2015, the company earned EGP 220,000, higher 61% from EGP 563,000 for 2014