Citadel Capital Shareholders Approve Capital Increase

By Yomna Yasser On Oct 21, 2013

Citadel Capital (CCAP.CA), the leading investment company in Africa and the Middle East with US$ 9.5 billion in investments under control, announced that its extraordinary general meeting (EGM) – held on Sunday – approved to increase the company’s authorized capital from EGP 6 billion to EGP 9 million.

Citadel added that, it initially approved issued capital increase from EGP 4.358 billion to EGP 8 billion through issuance of 728.275 million (182.093 million preferred shares and 546.281 million common shares) at nominal value of EGP 5 per share without issuance fees.

Moreover, the EGM approved to call for the existing shareholders to subscribe in capital increase shares with his/her quota in capital before increase.