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Maridive & Oil Services' EGM oks increase capital to USD 188.102

Maridive & Oil Services' EGM oks increase capital to USD 188.102

ArabFinance: Maridive & Oil Services Co. (MOIL) Extraordinary General Assembly (EGM) approved a capital hike from USD 163.840 to USD 188.102. The capital will be increased by subscription that limited to Mr. Nejad Zaini at the price of USD 0.61 per share. 

The EGM ratified the fair value study conducted by Independent Financial Adviser, Grant Thornton to the company's stock. It okayed increasing the authorized capital from USD 200  million to USD 1 billion, as well as amending articles no. 6 & 7 of articles of association. 

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