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Oriental Weavers to distribute 1:2 bonus shares

Oriental Weavers to distribute 1:2 bonus shares

ArabFinance: Oriental Weavers Carpet Company’s (ORWE) ordinary general meeting (OGM) approved distributing bonus shares, the company said Thursday in a statement sent to EGX.

The company will issue one bonus share for every two shares, to financing the reserves.

Moreover, the extra-ordinary general meeting (EGM) agreed on amending article (6 and 7) from the firm’s articles of association.

Both meetings were convened on April 17.

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