ArabFinance: Vertika for Industry and Trade’s ordinary general meeting (OGM) and extraordinary general meeting (EGM) approved a capital increase of EGP 705,900 through bonus shares, according to a statement filed to the Egyptian Exchange (EGX) on Wednesday.

Accordingly, the company’s issued and paid-up capital shall increase to EGP 3.058 million from EGP 2.353 million through the issuance of 705,900 bonus shares at a par value of EGP 1 per share.

The capital increase shall be financed from retained earnings as per the financial statement for the year ended December 31^st 2020.

Moreover, shareholders approved the disbursement of a 0.30-for-1 bonus share.

The bonus shares will be distributed as of March 13rd 2022, with the eligibility in distribution to shareholders until a record date of March 10^th 2022.