Cairo – Mubasher: MM Group for Industry and International Trade on Tuesday announced that its shareholders had approved distributing bonus shares for 2018 to increase the company’s capital during an ordinary general meeting (OGM) held the previous day.
The OGM approved to issue 0.25 bonus share per each owned share for 2018, according to a filing to the Egyptian Exchange (EGX).
In addition, the Egyptian firm’s extraordinary general meeting (EGM) approved to raise the company’s capital by EGP 76.72 million to EGP 383.62 million from EGP 306.9 million by issuing 123.75 million shares with a nominal value of 0.62 a share for 2018 by issuing 0.25 bonus share for each owned share.
For the full-year 2018, MM Group’s profits fell 18.8% year-on-year to EGP 275.52 million from EGP 339.34 million in 2017, including minority shareholders’ rights.
