ArabFinance: The extraordinary general meeting (EGM) of Development and Engineering Consultants (TAMEER) (DAPH) has approved to raise the company’s issued and paid-up capital to EGP 299.37 million from EGP 249.48 million, TAMEER announced in a statement.

The capital increase will be carried out through adding the value of the bonus shares distributed over 21.38 million shares at a nominal value of EGP 14 per share, according to the statement.

Moreover, the EGM agreed on the amendment of Articles 4, 6, and 7 of the company’s Articles of Association.

Established in 1954 and listed on the EGX in 1996, TAMEER operates within the capital goods sector focusing on construction and engineering.