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October Pharma's EGM to discuss issued and authorized captial increase

October Pharma's EGM to discuss issued and authorized captial increase

ArabFinance: October Pharma (OCPH) called for an extraordinary general meeting to be held on Dec. 05, 2019, in order to discuss the increase of authorized capital and issued capital.

The company decided to increase the authorized capital from EGP 60 million to 120 million with an increase amounting to EGP 60 million, in addition to the issued capital increase from EGP 60 million to EGP 120 million, with an increase amounting to EGP 60 million.

The EGM will review amending articles no. 6 and 7 of articles of associations. 

It is worth mentioning that the company got Financial Regulatory Authority (FRA) nodded on Oct. 31, 2019, to October Pharma to proceed into procedures of the issued capital increase.

The capital will be increased in cash as well as allocated to existing shareholders according to their quota in the share capital. 

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