Cairo – Mubasher: The Extraordinary General Meeting (EGM) of Port Said Container & Cargo Handling Company has approved increasing the authorized and issued capital, as well as amending Article (6) of the company's Articles of Association.
According to the company's disclosure to the Egyptian Exchange (EGX) today, Thursday, the EGM approved increasing the authorized capital from EGP 1.5 billion to EGP 6 billion.
It also approved increasing the issued capital from EGP 1 billion to EGP 3 billion, representing an increase of EGP 2 billion.
This shall be effected through offering 400 million cash shares at a nominal value of EGP 5 per share to existing shareholders via subscription, each according to their shareholding percentage in the capital, without trading the subscription rights.
