Ferchem Misr for Fertilizers (Ferchem) will hold an extraordinary general meeting 23 May to discuss a capital hike from EGP 30 million to EGP 33 million.

The EGP 3 million increase will be fully financed from fiscal year 2014 dividends and effected through bonus shares, distributed at 1-for-10 at EGP 2 par value each.

The company reported net profits of EGP 3.2 million for 2014, compared with EGP 3.1 million for the previous year.

Ferchem Misr is capitalised at EGP 30 million, distributed across 15 million shares at EGP 2 par value each.