Cairo – Mubasher: Asek Company for Mining’s (ASCOM) board of directors has invited the extraordinary general meeting (EGM) to convene to approve a cash capital increase through subscription and amending the company’s articles of association.
The issued capital will be increased by EGP 80 million to EGP 550 million from EGP 470 million, according to a statement to the Egyptian Exchange (EGX).
The EGM will also discuss amending the articles six and seven of its articles of association.
From January to September 2018, ASCOM incurred EGP 31.2 million in losses, compared to EGP 305.04 million during the corresponding months in 2017.
