Stock Dividend Declaration

RNS Number : 7893T

Commercial Intnl Bank (Egypt) SAE

25 November 2013

 



Announcement

Commercial International Bank- CIB- Egypt announces to its shareholders that the Bank's issued capital will be increased from 6,001,623,790 Egyptian pounds to 9,002,435,690 Egyptian pounds. Said increase of 3,000,811,900 Egyptian pounds will be fully paid for from the Bank's general reserves according to the financial statements of the period ended in 31/3/2013 and based on the approval of the Egyptian financial Supervisory authority EFSA dated 13/11/2013. The increase will be distributed over 300,081,190 free shares for the Bank's shareholders in accordance with the decision of the General assembly meeting which was held on 1/7/2013 as well as the extraordinary general assembly meeting held on 15/7/2013.

The stock dividends will be distributed in the form of one free share for every two original shares-before the increase- to shareholders who would buy shares until the end of the trading session of Wednesday December 4^th, 2013. The Stock dividends will be disseminated to shareholders starting Thursday December 5^th, 2013, worthy to note that fraction shares will be approximated in favor of the minority shareholders through Misr for Central Clearing, Depository and Registry Company.

 

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