Arab Finance: Cairo Educational Services (CAED) Board of Directors was convened on September 6.

BoD approved suggestion of cash dividends distribution amounting to LE1 per share.

Moreover, BoD ratified the disclosure report in order to conducting the procedures of issued and paid capital hike by LE24 million, through distribution of one free stock for every existing one held.

Capital hike will be funded from delayed profits, aiming to establish new schools.

Extra-ordinary general assembly is considered to discuss the capital hike suggestion, the company stated in its statement sent to EGX.

It is worth mentioning, the company called ordinary general assembly to be convened on October 10, in order to review the distribution suggestion.

Source: EGX & Arab Finance editor