(2017-07-24) Natural Gas board ratifies capital hike by LE120 m Natural Gas & Mining Project's (Egypt Gas) (EGAS) board of directors has convened on July 20, 2017.
Egypt Gas board ratified capital hike to LE240 million from LE120 million. Capital increase will be financed by balance of gas project reserves according to financial statement for the fiscal year ending December 31, 2016.
The capital hike will be through issuance one share for every existing one held.
Moreover, The board approved amending articles number 6 and 7 regarding the statute of the company as well as articles number 3, 4 and 26 to be presented on extraordinary general assembly.
Egypt Gas board ratified disclosure report to conduct the procedure of capital hike.
