< Arab Finance - News - Rubex Plastic EGM ratifies capital hike by LE50 m
Count Down to relaunch



Rubex Plastic EGM ratifies capital hike by LE50 m

Rubex Plastic EGM ratifies capital hike by LE50 m

Arab Finance: Rubex International for Plastic and Acrylic Manufacturing’s (RUBEX) (RUBX) extra-ordinary general assembly was held on March 3.

EGM approved authorized capital hike from LE50 million to LE500 million, while issued and paid capital will be LE100 million from LE50 million.

Capital hike will be through calling existing shareholders for subscription to be funded in cash or through usage of credit balance amounting to LE36,078,511 in favour of Al Rateem Development & Reconstruction SAE, according to financial position ending Septemeber 2015, and the cash subscription will amount to LE13,921,489.

The capital hike will be distributed over 10 million shares, at nominal value of LE5 in addition to the fees.

EGM disagreed trading of right issue away from original stock.

Moreover, EGM ratified amending article no. 3 from articles of incorporation through adding some activities.

Source: EGX & Arab Finance editor

Recommended Stocks

13 Jun 2022
Delta Sugar SUGR
Close
14.03
Change
-01.13
Hold

All rights reserved to Arab Finance 2020 ©

Back to top