(3 minutes read)
· The general assembly also agreed to amend its contract for providing electronic services to Fawry Dahab to ensure that the cost of service is adjusted to 17.25%, instead of 15%, of net revenues
· General decisions included approval of the financing offer submitted by Banque Misr and to increase the company’s authorised capital from EGP 500m to EGP 1bn
· It was also agreed to increase the issued company’s capital with a free increase from EGP 353.652m to EGP 453.652m in nominal value for the benefit of old shareholders
Fawry for e-payments has agreed to conclude an EGP 160m loan contract between its subsidiary, Fawry Microfinance, and the Egyptian-American Enterprise Fund. The decision was taken at the general assembly of the company held recently.
The general assembly also agreed to amend its contract for providing electronic services to Fawry Dahab to ensure that the cost of service is adjusted to 17.25%, instead of 15%, of net revenues.
General decisions included approval of the financing offer submitted by Banque Misr and to increase the company’s authorised capital from EGP 500m to EGP 1bn. It was also agreed to increase the issued company’s capital with a free increase from EGP 353.652m to EGP 453.652m in nominal value for the benefit of old shareholders.
Eastern Developments Chairperson Mohamed Talaat Abu El-Nasr said that the project is spread over an area of 20 feddan, and that the project masterplan has had all approvals issued. He also said that the company will begin construction work on the compound this year, while addressing a press conference recently.
