(2017-09-13) EGX nods Mohandes Insurance to increase capital by LE11 m
The Listing Committee held on September 13, has approved Mohandes Insurance (MOIN) to publish disclosure report to conduct procedures of calling ordinary and extra-ordinary general assemblies to be convened. The general assembly will review issued capital increase to LE121 million from LE110 million, with increase amounting to LE11 million, by issuance of free stocks for the company shareholders. The capital hike will be distributed over 4.4 million shares, at a nominal value of LE2.5 per share, financed from public reserves worth LE36,018,124. by issuance free stocks for the company shareholders. The company will distribute 0.10 free stocks for every original stock EGX added the company is committed to convene OGM and EGM within a month from disclosure report announcement.