Eastern postpones BoD meeting to 1 September to discuss capital increase
Eastern Company (EAST.CA) announced that its board of directors (BoD) meeting would be postponed to 1 September 2016, to discuss the required procedures of increasing the company’s issued capital to EGP1.5bn from EGP750mn through a 1:1 stock dividend, as well as increasing authorised capital to EGP3bn from EGP1.5bn. (Company disclosure) Eastern Company: EGP214.98 as of 30 August 2016, Rating: Buy, FV: EGP310.00 per share, MCap: USD1,210mn, EAST EY / EAST.CA
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