General assembly of Spinalex ratifies capital cut

Updated 2/19/2020 12:18:04 PM

ArabFinance:  Alexandria Spinning & Weaving's (Spinalex) (SPIN) extraordinary general assembly approved on Feb. 18 cutting issued and paid-up capital by lowering the par value of the share. 

It will decrease the par value to EGP 1.55 per share. 

Moreover, the general assembly approved amending articles no. 6 and 7 of the company's statute.