Agwa for Food Industries – Egypt has unveiled a set of key resolutions to be put before its ordinary general assembly, including the following:
1. Increase in issued capital
- The company approved a proposal to raise its issued capital from EGP 200.95 million to EGP 500 million.
- The increase is valued at EGP 299.047 million and will be financed in cash within the limits of the authorised capital.
- The increase will be carried out by inviting existing shareholders to subscribe to 29.9 million shares, in proportion to their shareholding, with a nominal value of EGP 10 per share, and subscription rights will be tradeable separately from the original shares.
2. New investments and expansions
- The company decided to take a 10% stake in the establishment of Ghezaa Al-Mustaqbal for Food Industries (Future Food for Food Industries).
- The new entity will operate in food manufacturing and processing, contract manufacturing for third parties, and distribution and supply chain management services.
3. Stake sale and asset utilisation
- Stake sale: Preliminary approval was given for the sale of a stake of up to 10% of the company's shares in Al-Orouba for Food Industries.
- Trademarks: The company will sign contracts to licence the use of its owned trademarks, including Al-Nakhlatain, Hena, Nafees, Sabha, Balmin, Nawara and Solitaire, for a period of 10 years, while retaining ownership of these brands without relinquishing them.
Source: Mubasher
