ArabFinance: Gharbia Islamic Housing Development (GIHD) declared in a statement sent to EGX, the extraordinary general assembly meeting was held on May 15. 

The EGM disapproved of increasing authorized capital hike to LE500 million form LE50 million, moreover, the EGM dismissed increasing the issued and paid capital to LE50 million from LE22.5 million. Nevertheless, the EGM also dismissed trading the Company right issue separately from the underlying equity. 

It ratified amending article No. 2, 3, 4, 21, 26, 28, 39, 44 and 55 of the articles of associations as well as dismissed amending article No 6 & 7.