Arab Dairy Products Co. ARAB DAIRY - Panda (EGX code ADPC.CA)( one of Pioneers Holding companies) - announces the approval of the Board of Directors' Meeting Minutes in its meeting held on 22-5-2018 , an increase of the Company's issued and paid up capital from 60 million pounds to EGP 160 million pounds with an increase 100 million Egyptian pounds on the number of 100 million shares at nominal value of 1 pound per share, representing an increase of 167% of the value of the current capital and the increase is allocated to the shareholders and both share of the share in the capital and will pay the value of the Increase in cash and / or from the credit balances to the old shareholders'
Commenting on this, Mr. Yasser Zaki, Vice Chairman and Managing Director of the company, said that as a continuation of the strategic plan developed by the Investment Department, the company will increase its capital by 167%. This increase is the first after the acquisition of Arab dairy by Pioneers Holding Company which Aims Significantly to increase the production capacity of the company to meet the increasing demand for all the products of the company and continue to open new export markets, especially the African market, which is a market with a high demand for Egyptian food products.
In the coming period, Zaki aims to increase the company's productivity significantly and efficiently and increase the company's share of the white cheese and cooked . and work on raising the demand for the prestigious brand (Panda) in the Egyptian market.
Zaki added that in a short period of time, we have been able to end up reconciling our situation
our position in the Egyptian Stock Exchange to maintain our presence and serve a large segment of investors as we believe that our continued presence in the Egyptian Stock Exchange will reflect positively on the company's growth and development during the coming periods.
The company's sales in the first quarter of 2018 rose to 293.25 million pounds with an increase of 14.5%. The company achieved sales in 2017 reaching LE 1.14 billion pounds compared to sales of LE 646.6 billion pounds in the previous year.
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Investor Relations Manager
Mr Hany Ibrahim Mujahid
Phone: +2 02 26241883
Mobile: + 201001644511
Address: No. 15 Abdel Hamid Badawy Street - Heliopolis - Cairo - Egypt
E-mail: hmegahed@arabdairy.com
About Arab Dairy Products Company - Arab Dairy - Panda
Arab Dairy Products Company - Arab Dairy - Panda (an Egyptian shareholding company) was established in September 1985 under the license of the Government of the Arab Republic of Egypt in accordance with the provisions of the Investment Law No. 43 of 1974 and its Executive Regulations for the purpose of producing white cheese. On April 11, 1990, The policy of the company was amended to become the target of the company is producing all dairy products and all kinds of cheese. The company was listed in the Egyptian Stock Exchange on 6/1/2009 code ADPC.CA.
About Pioneers Holding Group
Pioneers Holding Group is an Egyptian stock company listed in the Egyptian Stock Exchange. It is one of the leading investment and financial services groups in the region. It is acquiring, restructuring and establishing new projects in three main specialized sectors: the non-banking financial services sector, housing and Contracting sector and industrial sector. The company is one of the largest investment entities, not only in the Egyptian market, but in the Arab region as a whole, under its umbrella currently includes 57 subsidiaries, including 9 companies listed in the Egyptian stock exchange. The company's capital is 3.6 billion pounds.
© Press Release 2018
