ArabFinance:  The extraordinary general meeting (EGM) of the Arab Ceramic Company (Ceramica Remas) (CERA) has approved splitting of the nominal value of the company’s stock to EGP 0.25 from EGP 1 per share, according to a statement filed to the Egyptian Exchange.

As a result, the number of the company’s shares will be 718.75 million, instead of 179.68 million shares.

Accordingly, Articles 6 and 7 of the company’s Articles of Association will be amended in accordance with the approval of the Financial Regulatory Authority (FRA), the statement added.

Ceramica Remas is an Egypt-based public shareholding company engaged in the construction supplies industry sector. The company is primarily involved in the production and distribution of sanitary ware sets and ceramic tiles.