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Tunisia: SOTUMAG to increase its capital

The Tunisian Company of Wholesale Markets (SOTUMAG), a limited company under the Ministry of Trade, has called its shareholders to an extraordinary meeting to be held Thursday, November 16, 2017 to discuss the company’s capital increase to 13.2 million dinars (MD).

The SOTUMAG said in a statement, published on the website of the Tunis Stock Exchange (TSE), the company’s capital will be raised from 12MD to 13.2 MD, through the issuance of one million 200 thousand shares, with a par value of 1 dinar the share.

The new shares will have legal rights from January 1, 2017.

Shareholders will also review the update of article 6 of the by-laws governing the company’s capital, which should be around 13,200 MD.

The shareholders will also discuss the decision to grant the CEO of the company or any person representing him all the prerogatives to carry out all the legal procedures relating to this operation.

SOTUMAG, which is listed on the stock exchange, is responsible for the distribution of fruits and vegetables.

At the close of business on Friday, October 27, 2017 the value of the company’s stock was 2.030 dinars.

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