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Vertika’s OGM, EGM nod to distribution of bonus shares

Vertika’s OGM, EGM nod to distribution of bonus shares

ArabFinanceVertika for Industry and Trade’s ordinary general meeting (OGM) and extraordinary general meeting (EGM) approved a capital increase of EGP 705,900 through bonus shares, according to a statement filed to the Egyptian Exchange (EGX) on Wednesday.

Accordingly, the company’s issued and paid-up capital shall increase to EGP 3.058 million from EGP 2.353 million through the issuance of 705,900 bonus shares at a par value of EGP 1 per share.

The capital increase shall be financed from retained earnings as per the financial statement for the year ended December 31st 2020.

Moreover, shareholders approved the disbursement of a 0.30-for-1 bonus share.

The bonus shares will be distributed as of March 13rd 2022, with the eligibility in distribution to shareholders until a record date of March 10th 2022.

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