Modern Education Systems’ OGM approves capital hike
Updated 1/13/2021 3:05:30 PM
ArabFinance: Egyptian Modern Education Systems’ shareholders agreed to increase the issued capital from EGP 85.65 million to EGP 110 million through two steps, according to a January 13th disclosure.
The equityholders approved, during the ordinary general meeting (OGM), to raise the capital from EGP 85.65 million to EGP 96.43 million by issuing 10.77 million bonus shares.
The stakeholders also gave the green light for increasing the capital from EGP 96.43 million to EGP 110 million through subscription.
A day earlier, Modern Education Systems’ board said it would shift to the Egyptian Exchange’s main market once the capital hike is concluded.
The Financial Regulatory Authority has nodded to the capital rise last month.
