Cairo – Mubasher: Reacap Financial Investments Company announced on Tuesday that its extraordinary general meeting (EGM) will be held on 19 June.
The EGM will discuss decreasing the company’s issued capital by EGP 15 million to EGP 530.94 million from EGP 545.94 million through writing off 3 million treasury stocks owned by the company, with a nominal value of EGP 5.
Reacap is capitalised at EGP 545.94 million distributed across 109.18 million shares with a nominal value of EGP 5.
Shareholders will also discuss amending articles number (6) and (7) to comply with the capital cut.
Worth noting, Naeem Holding Company owns a 47% stake in Reacap’s capital.
