Arab Finance: Cairo Educational Services (CAED) ordinary general assembly was convened on October 10.
OGM approved suggestion of cash dividends distribution amounting to LE1 per share for the fiscal year ending 31/12/2015, which will be distributed next November.
Moreover, OGM ratified conducting procedures of issued and paid capital hike by LE24 million, through distribution of 6 million stocks (one free stock for every existing one held), at nominal value of LE4 per share.
Capital hike will be funded from delayed profits and profits of fiscal year 2014, aiming to establish new schools.
It is worth mentioning, Extra-ordinary general assembly is considered to be held on 19/10/2016.
Source: EGX & Arab Finance editor