Cairo – Mubasher: Industrial Engineering Company for Construction and Development (ICON) obtained the extraordinary general meeting’s (EGM) approval for capital top-up by distributing 1-for-3 bonus shares.
ICON will thus increase its capital by EGP35.6 million to EGP142.5 million from EGP106 million, financed from FY15 distributable profits that stood at EGP96.5 million by the end of 2015.
The extraordinary meeting accordingly amended article no 6 of the memorandum by which the authorized capital has become EGP150 million. Meanwhile, the paid-in and issued capitals reached EGP142.56 million distributed over 35.640 million shares at a par value of EGP4 each.
On 30 March, ICON ordinary meeting approved paying out FY15 dividends at EGP0.25 per share as well as 1-for-3 bonus shares.
In 2015, the company registered a net profit of EGP58.3 million, compared to EGP28.9 million a year earlier.
