Cairo – Mubasher: Electro Cable Egypt announced that its Extraordinary General Meeting (EGM) will be held on Monday, November 16, 2026, to consider the proposal to increase the authorized capital from EGP 850 million to EGP 3 billion, and to amend Article 6 of the company's Articles of Association.
The company explained in a disclosure to the Egyptian Exchange (EGX) today that the assembly will also discuss increasing the issued and paid-up capital from EGP 662.7 million to EGP 1.31 billion, through a cash increase of EGP 650 million distributed over 3.25 billion shares at a nominal value of 20 piasters per share, while enabling the tradability of subscription rights separately from the original shares.
It pointed out that the EGM will consider approving the study on the reasons and uses of the capital increase, which includes directing the proceeds of the increase toward settling a portion of the existing bank credit facilities.
It noted that the agenda includes authorizing the Chairman of the Board of Directors to determine the duration for trading the subscription right separately, and to amend Articles 6 and 7 of the company's Articles of Association in light of the subscription results.
