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The ordinary general meeting of Beltone Financial Holding (AGA) has agreed to sign a compensation agreement for a $ 1.55 million loan from Orascom Investment Holding.
Payment is due within 3 months from the date of withdrawal of the amount of each payment or the completion of the capital increase of Beltone Holding through the General Meeting, depending on the date of the payment. closer to the due date.
The company added that the loan amount is subject to a yield of 10.52% per annum on the total loan amount, starting to calculate the yield from the due date of each tranche.
The contract was approved after the abstention of Orascom Holding, shareholder of the shareholder and board member of the company, according to the statement.
The Orascom Investment Holding Board of Directors approved a loan of $ 1.55 million (25.7 million Egyptian Pounds) to Beltone Financial Holding to raise the capital of LCC, Auerbach Grayson.
The Ordinary General Meeting of Beltone approved the increase in subscribed capital of 338.08 million pounds to 898.4 million pounds for the benefit of former shareholders.
The company recorded a net loss of 23.19 million pounds from the beginning of January to the end of March, compared with 760.22 thousand pounds for the same period last year.
appointments:
Beltone shareholders approve change of status and election of new board of directors
Beltone becomes the loss of the first quarter of 2019
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