The board of directors at Lisiqo Egypt has approved a reduction in the company's issued capital. The reduction involves 8,913 shares with a total nominal value of 22,282.5 EGP. These shares were previously owned by Lisiqo for Ceramic Industries, a subsidiary that merged into Lisiqo Egypt. The merger was effected through an investment authority decision on February 18, 2026, and noted in the commercial registry on March 29, 2026.
The decision to reduce capital was made during a board meeting on September 26, 2026. Following the reduction, the company's issued and paid capital is expected to be approximately 199.978 million EGP. This will be distributed across 79,991,087 shares, each with a nominal value of 2.5 EGP. The move aims to reflect the change in the company's shareholding structure post-merger.
As part of the same meeting, the board approved amendments to articles 6 and 7 of the company's articles of association. These changes are necessary to align with the proposed capital reduction. Additionally, the board adopted an disclosure report as per the Egyptian stock exchange and financial regulatory authority rules. This report will be submitted to the Egyptian Financial Regulatory Authority for approval.
The board has authorized the chairman or the CEO and the executive board member to finalize the capital reduction process. This will be done after obtaining the necessary approvals from regulatory bodies. The company will invite an extraordinary general assembly to convene. This assembly will discuss and vote on the proposed capital reduction and amendments to the company's articles of association.
The assembly will only be convened once the Egyptian Financial Regulatory Authority approves the disclosure report and it is published on trading screens. The report and subsequent actions are subject to review and approval by relevant authorities. These include the stock exchange and administrative bodies as necessary.
Lisiqo Egypt's board also authorized a representative to handle legal procedures. This includes adopting and notarizing meeting minutes with concerned parties. Such parties comprise the General Authority for Investment, the Egyptian Financial Regulatory Authority, and the land registry.
Key actions from the board meeting included approving a capital reduction and amending the company's articles of association. These steps are aimed at formalizing the merger of Lisiqo for Ceramic Industries into Lisiqo Egypt. The company is moving to update its corporate structure to reflect changes from the merger.
Key points
- Lisiqo Egypt's issued capital will be reduced by 22,282.5 EGP through the cancellation of 8,913 shares.
- The merger of Lisiqo for Ceramic Industries into Lisiqo Egypt was formalized on March 29, 2026.
- The company's capital, post-reduction, is expected to be approximately 199.978 million EGP.
