The Board of Directors of Magasin Général has decided to convene the company’s shareholders to an Extraordinary General Meeting to be held on Friday, March 1, 2023 in order to deliberate on the increase of the company’s capital.
According to the draft resolutions to be submitted to the EGM for approval, the EGM will decide on a cash increase of the Company’s share capital by an amount of 5,218,750 dinars, bringing it from 11,481,250 dinars to 16,700,000 dinars.
This increase will be made by issuing 5,218,750 new shares to be subscribed for in cash at the ratio of 5 new shares for 11 old shares. The new shares to be subscribed for in cash will be issued at a price of 10 dinars per share, i.e. a nominal value of 1 dinar and an issue premium of 9 dinars.