Mubasher: Sultan Center Food on Tuesday announced that the extraordinary general meeting (EGM) has been rescheduled to Wednesday, 18 July, due to lack of quorum during a meeting held the previous day. 

The shareholders will discuss increasing the authorised capital by KWD 25 million to KWD 82.88 million from KWD 57.88 million, according to a bourse filing.

Upon this capital rise, the number of shares will increase to 828.8 from 578.8 million at a par value of 100 fils per share.

Sultan Center’s EGM will also consider issuing convertible bonds valued at a maximum of KWD 15 million or equivalent in other currencies with a duration period not exceeding 10 years.