Gulfa Mineral Water's OGM nods to raise issued capital

The company will increase issued capital by issuing 10mln shares


Dubai – Mubasher: The ordinary general meeting (OGM) of Gulfa Mineral Water and Processing Industries Company has approved to raise the issued capital to AED 40 million from AED 30 million.

The company will increase issued capital by issuing 10 million shares valued at AED 1 per share, according to the company's disclosure to the Dubai Financial Market (DFM) on Sunday.

During the meeting, the shareholders also agreed on increasing the authorised capital from AED 40 million to AED 80 million

It is noteworthy to mention that in 2019, the company's losses decreased by 294.4% to AED 4.19 million, compared to AED 16.55 million in 2018.

Source: Mubasher

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