The Extraordinary General Meeting of Bank ABC held on September 19 approved the decision of the Board of Directors to increase the Bank’s share capital by 32 million dinars.
To this end, the Bank’s capital will be increased from 68 million dinars to 100 million dinars through the issue of 3,200,000 shares with a nominal value of 10 dinars.
That capital increase shall be carried out in two successive and inseparable tranches in accordance with the following terms and conditions:
– The first tranche of the capital increase will be carried out for an amount of 10.88 million dinars by means of the incorporation of retained earnings. This will result in the issue of 1,088,000 shares, which will be allotted free of charge to the shareholders in proportion to their participation in the share capital and will carry dividend rights from the date of completion of the capital increase. These shares will be subscribed on the basis of 4 new shares for 25 existing shares.
– The second tranche of the capital increase will amount to 21.12 million dinars, corresponding to 2,112,000 shares, the subscription of which will be fully and exclusively reserved for the shareholder Arab Banking Corporation BSC (Bank ABC BSC).
