Reacap Financial Investments’ EGM agrees to capital cut

Arab Finance: Reacap Financial Investments Company’s extraordinary general meeting (EGM) endorsed cutting the firm’s issued and paid-up capital by writing off 1.1 million treasury shares at a nominal value of EGP 5 per share, as per a filing on April 18th.

Accordingly, the capital will be decreased by EGP 5.5 million to EGP 551.98 million, with the number of the company’s shares after capital cut to amount to 110.4 million shares.

Reacap Financial Investments is an Egypt-based company engaged in the provision of portfolio and fund management services.

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