ArabFinance: Mohandes Insurance (MOIN) called for the ordinary and extraordinary general assemblies to meetings on Feb. 02, 2020, in order to discuss issued capital increase by distributing free shares.
The OGM will review utilizing EGP 27,352,986 from the reserves and EGP 10,147,014 from the retained profits into the capital increase from EGP 150 million to EGP 187.5 million. The company will issue 15 million shares with a total value amounting to EGP 37.5, and par value of EGP 2.5.
The EGM will also discuss the capital increase and amending article No. 6 & 7 of the company statute.
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