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Lift Slab approved capital hike by EGP 31M

Lift Slab approved capital hike by EGP 31M

ArabFinance: Egyptian Developing Building Materials’ (Lift Slab) (EDBM) extraordinary general meeting (EGM) approved capital increase from EGP 34 million to EGP 65 million, by EGP 31 million, as per a Monday bourse filing.

The capital increase will be through issuing 5 million shares at a par value of EGP 6.20 per share, in addition to issuance expenses of EGP 0.10 per share. The right issue will be applied separately from the underlying share.

Moreover, the EGM approved amending Articles (6, 7 and 21) of the company’s articles of association.

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