The extraordinary general meeting of Osool ESB Securities Brokerage approved on Wednesday the board decision No. 248, dated October 19, 2014, on reducing the stock par value.
The board had decided to reduce the stock par value by 19.75 times so that the stock’s closing price in EGP is not less than those of 25% of listed companies last month.
Accordingly, the total number of the company’s issued shares will amount to 79 million at EGP 0.506 par value instead of EGP 10.
The brokerage company’s financial indicators for the nine-month period that ended on September 30, 2014 mirrored EGP 4.1 million net profit, against EGP 1.3 million net loss in the same period a year earlier.
Total revenues amounted to EGP 16.7 million, compared with EGP 6.5 million in the first nine months of FY13.
Financial results for H1-14 had shown EGP 3.4 million net profit, against EGP 1.3 million net loss in the year-ago period.
The company had posted EGP 2.1 million net profit in Q1, against EGP 735 thousand net loss in Q1-13.