News Details
Pioneers Holding (PIOH.CA) - Listing the Company's Capital Increase Shares
The Listing Committee held on 21/07/2020 has approved to List the company's capital increase from EGP 4,682,424,970 to EGP 5,274,025,800, an increase of EGP 591,600,830 distributed distributed over 118,320,166 shares at par value of 5 pounds per share in addition to the issuance premium of 3.66 pounds per share fully paid through the shareholders’ credit balances Which have arisen as a result of the stock swap without the cash option, which was made through tender offers to buy shares of subsidiaries; Provided that the total shares of the increase are allocated to the main shareholders (Mr. Walid Muhammad Zaki, and his minor children) excluding the pre-emptive rights for the company's existing shareholders , where the total value of the issuance premium shall be carried over to the statutory reserve account, in accordance with the provisions of Article 94 of the executive regulations of the Law No. 159 of 1981.
These new shares shall be added to EGX database starting 26/07/2020 trading session