Today: Record date for SODIC's stock split

Today, Wednesday, July 27th is the record date for reducing the par value of Six of October Development and Investment (SODIC) from EGP 10 to EGP 4. The move is aimed at lifting issued capital to EGP 362,705,392, divided into 90,676,348 shares.

The stock split was approved by the Egyptian Financial Supervisory Authority (EFSA) on March 3, 2011. The extraordinary shareholder meeting, held on Jan. 27, 2011, also okayed the par value reduction and amendment of Articles No. 6 & 7 of the Articles of Incorporation.

The stock will be traded at the new par value as of tomorrow, July 28th, via Misr for Central Clearing, Depository and Registry (MCDR), with approximation to minor shareholders.