NSGB Didn’t Ask For EFSA’s Approval On Capital Increase

The National Société Générale Bank (NSGB) has not submitted a disclosure form to the Egyptian Financial Supervisory Authority (EFSA), as per Article No.16 of listing rules, to increase its issued and paid-in capital through bonus share distribution.

NSGB’s board of directors had proposed paying cash dividend at EGP 1.25 per share. It also approved increasing issued and paid-in capital by EGP 443.535 million, through 1-for-10 bonus share distribution, to reach EGP 4,878,894,920, which will be financed from public reserves as on December 31, 2012.

The proposed dividend payout and bonus share distribution will be discussed by shareholders in their upcoming general meeting.