Cairo – Mubasher: Electro Cable’s ordinary and extraordinary general meetings will be held on 5 May for increasing the company’s capital and distributing bonus shares.
The ordinary meeting will consider using the current profits and retained profits registered in 2015 financial statements to distribute bonus shares.
Meanwhile, the extraordinary meeting will think capital increase and the amendments of articles no. 6 and 7 through.
Earlier, the board of directors recommended distributing 1-for-20 bonus shares by raising capital to EGP547.3 from EGP521.2 million.
In 2015, the company earned EGP27.17 million, compared to EGP41.39 million in 2014.
The stock quote rose 3.5% to EGP0.89 at 10:23am Cairo time
