Memphis Pharmaceutical approves authorized capital increase

The EGM approved amending article no. 6 of articles of association

ArabFinance:Memphis Pharmaceutical (MPCI) extraordinary general meeting (EGM) approved setting the authorized capital at EGP 300 million instead of EGP 100 million in its articles of association, according to the company’s October 4th statement filed to the Egyptian Exchange.

The EGM approved amending article no. 6 of articles of association.

The company posted a net profit before taxes of EGP 2.920 million in July-August period for the fiscal year 2020/2021, a 143% rise from EGP 1.200 million achieved in the prior-year period.

Memphis Company is one of the companies of the drug holding company in Egypt. Memphis Company is considered one of the oldest pharmaceutical and chemical companies in the Middle East since 1940.

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