Cairo - Mubasher: Gharbia Islamic Housing Development Company postponed holding its extraordinary general meeting (EGM) to 24 December.
Gharbia Development stated that the quorum of the EGM was not completed to be held on 17 December, as the presence reached only 13.26% of company's total shares.
The EGM will discuss raising the company’s capital from EGP 22.5 million to EGP 50 million by issuing 6.87 million shares with a face value of EGP 4 per share, a total of increase of EGP 27.5 million or EGP 1.22 million per share.
The company will also tackle raising the company’s authorized capital from EGP 50 million to EGP 500 million, according to a bourse filing on Sunday.
