Cairo – Mubasher: The extraordinary general meeting of Egyptian for Developing Building Materials (LIFT SLAB) gave a nod to raise the company's issued capital from EGP 43 million to EGP 86 million.
The shareholders meeting also approved to not trade the right issue separated from the original stocks.
The capital increase of EGP 43 million, will be distributed across 4.3 million shares at EGP 10 par value each, in addition to issuance fees of EGP 0.25/shr.
Meanwhile, the shareholders meeting endorsed raising the company's authorized capital by EGP 50 million to EGP 400 million.
LIFT SLAB posted EGP 2.33 million in losses for the first half of 2015, compared with EGP 2.21 million a year earlier.
