Speed Medical board proposes stock split to EGP 0.20

Updated 4/30/2019 4:08:57 PM

ArabFinance: Speed Medical (SPMD) on April 27 approved submitting a proposal to the general assembly to split the stock par value, as per a Tuesday bourse filing.

The stock par value would be split to EGP 0.20 instead of EGP 1, to increase the company’s capital.

Moreover, the board also agreed on inviting the extraordinary general assembly (EGM) to discuss splitting the stock par value and review amending Articles (6 and 7) from articles of association.