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Rana Mamdouh
On July 24, 2019, the Listing Committee of the Egyptian Stock Exchange approved the amendment of Article 3 of the Articles of Association of Al-Tawfiq Leasing Company. T. does not add factoring activity to its purposes.
The stock market said in a statement that the committee had approved the registration of shares of the issued and issued capital increase of 200 million to 234.4 million pounds.
The increase, estimated at 34.4 million pounds, is spread over 13.760 million shares with a par value of 2.5 pounds per share.
According to the statement, the increase is through the distribution of free shares of 0.1720 per original before the increase.
The increase is funded by the year-end profits presented in the financial statements ended December 31, 2018.
She pointed out that the end of the right of free distribution to the buyer of shares until the end of the trading session Wednesday 07/08/2019 with the correction of fractures in favor of small shareholders.
According to the statement, the company's shares will be listed after the free increase on the database with a benchmark price on the company's shares as of the beginning of trading on Thursday 08/08/2019.
The Registration Committee also signed a financial commitment to the company of 10,000 Egyptian pounds, in violation of the provisions of Article 26 of the rules of registration and delisting of the Egyptian Stock Exchange and the of Article 26 of the enforcement proceedings.
This was done in accordance with the contract of organization of the registration of securities on the times of the Egyptian Stock Exchange and concluded with the company, with a deadline of payment of the financial commitment of 15 days from the date of notification the decision of the Registration Committee.
The position of the company will be presented to the Registration Committee in the event of non-compliance with the Committee's decision within the prescribed time.
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