ArabFinance: Nile Cotton Ginning Company (NCGC) will pay EGP 231,100,000 as a settlement of its disputes with the state, according to the company statement filed to the Egyptian Exchange.
The company announced the fair value of its share at EGP 35.53 per each.
On August 24th, the company’s extraordinary general meeting (EGM) approved the dispute settlement and the fair value of the company share.
The EGM also approved increasing the issued capital by EGP 264,962,500 from EGP 264,962,500 to EGP 529,925,000. The listed company will issue one share for every one held at the par value of EGP 5 per share and issuance outlays of EGP 0.0125.