Cairo – Mubasher: The extraordinary general meeting of Egyptian Company for Developing Building Materials (LIFT SLAB) gave go ahead to raise the company's issued capital from EGP 43 million to EGP 86 million via a rights issue.
The capital increase of EGP 43 million will be distributed across 4.3 million shares at EGP 10 par value plus issue costs of EGP 0.25 each.
The company's shareholders also approved raising the company's authorised capital from EGP 50 million to EGP 400 million.
Meanwhile, the EGM gave a nod to amending the articles No.6, 7 of statute.
LIFT SLAB said earlier it narrowed losses by 29.9% in the nine-month period ended 30 September 2015,to EGP 2.41 million compared with EGP 3.44 million for the same period a year earlier.
