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Tunisia: SFBT to increase capital by 33 MD

The Extraordinary General Meeting of the Tunisian Drinks Manufacturing Company (SFBT) decided at its meeting on April 24, 2019, on the proposal of the Board of Directors, to increase the share capital by an amount of 33 million dinars (MD), according to a statement released by the Tunis Stock Exchange.

The capital increase will be carried out by capitalization of reserves, by the issue of 33 million new free shares, each with a nominal value of 1 dinar, bringing it from 165 million to 198 million.

The EGM decided to make that increase of 33 MD, by incorporation of the account of special investment reserves (investments within the company) for an amount of 29.98 MD and levy an amount of 3.020 MD of the special investment account that became available.

It also decided the issue of 33 million free new shares with a par value of 1 dinar each to be attributed to former shareholders and assignees of stock exchange rights at a rate of (1) new free share for four (5) old shares, with entry into effect on January 1, 2018.

The turnover of soft drinks of the SFBT recorded during the 1st quarter of 2019 went down by 18.34% at 21.70 MD against 26.90 MD, during the same period of 2018.

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