Marseilia’s EGM nods to nominal value split

Updated 12/5/2022 1:52:24 PM

Arab Finance: The extraordinary general meeting (EGM) of Marseilia Almasreia Alkhalegeya for Holding Investment (MAAL) has agreed to splitting the nominal value of the company’s stock to EGP 0.5 from EGP 1, according to a disclosure filed to the Egyptian Exchange (EGX) on December 5th.

Accordingly, the company’s capital will be distributed over 207.648 million shares.

Moreover, the EGM endorsed the amendment of Article 6 and 7 of the Articles of Association.

Meanwhile, the company’s ordinary general meeting (OGM) has approved the finance lease contracts signed with Ui Finance, according to a separate disclosure.

Marseilia is an Egypt-based company engaged in real estate property investment, development, and management.