Muscat Finance Company: Authorized share capital increased to RO25 million
Mar | 2010
MUSCAT – According to the Chief Executive Officer of Muscat Finance Company Mr. Ajit Engineer, the following decisions were taken at the Extraordinary General Meeting and Annual General Meeting (AGM) held on March 25, 2010.
1. The Authorized Capital of the company has been increased to RO 25 mill from RO 12 mill. 2. The Issued Capital of the company to be increased to RO 14,000,650, by making the Rights Issue of capital to the existing shareholders for RO 3.8 mill and reservation of Share Capital of RO 200,000 for the employees of the Company. The guarantee from four shareholders to subscribe to the unsubscribed shares was also approved. 3. Article 6(a) of Articles of Association of the company is amended as above