Alexandria Containers and Cargo Handling Company (ALCN) Announces Capital Increase and Fiscal Year 2023/2024 Budget Projections
Summary of Resolutions of the company's Board of Directors Meeting held on Wednesday, November 8, 2023
*The following data source is the company disclosure sent to the EGX
At its meeting held on Wednesday, November 8, 2023 the company's Board of Directors unanimously approved the following resolutions:-
1-Approval of strengthen the financial position through increasing the issued and paid-up capital which is paid from statutory reserves in 30/6/2023 by :-
a-Increasing the authorized capital in article (6) of the statute from EGP1 Billion to EGP 2 Billion to accommodate the proposed increase of the issued and paid-up capital
b-Increasing the issued and paid-up capital by (egp744,876,700) which is equivalent to distribution of free share for every original share funded from the statutory reserve balance in 30/6/2023.
c-Approval of the disclosure form for the purpose of modifying the authorized capital from egp billion to egp2billion and modifying the issued and paid-up capital by (egp744,876,700) which is equivalent to distribution of free share for every original share funded from the statutory reserve balance in 30/6/2023.
2-Approval of the estimated budget project of the company for the financial year 2023/2024 to be as follow:-
The number of Handled Containers =860Thousand container 850Thousand container foreign trade + 10thousands container Transit )
Revenues of Current Activity reaches EGP 5,240Billion (Only Five Billion Two Hundred andForty Million Pounds)
*The company implements investment projects for the financial year 2023/2024 about EGP224,029 Million Only Two Hundred Twenty Four Million and Twenty Nine Thousand Pounds) to be funded from the company's own resources in addition to what will be implemented from previous letter of credits .
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