The Vice President of Economy and Finance of Mobarakeh Steel Company stated:
Mobarakeh Steel's capital jumps to 193 Trillion Tomans
me-metals: On the sidelines of the holding of two extraordinary general assemblies and an extraordinary ordinary general assembly of Mobarakeh Steel Company, the Deputy Director of Economics and Finance said by explaining the details of these assemblies: "Fortunately, both assemblies reached the required legal quorum and numerous decisions were made in order to develop the company and ensure the interests of shareholders."
According to me-metals cited from Irasin, Regarding the agenda of the "Extraordinary General Assembly", Hamed Hossein Vali Beik stated: "The most important issue of this assembly was the approval of the increase in the company's capital. Accordingly, the company's capital increased from 150 Trillion Tomans to 193.5 Trillion Tomans."
The Deputy Director of Economy and Finance of Mobarakeh Steel added: The resources from this capital increase will mainly be spent on development projects such as "hot rolling", "colored sheet line", as well as increasing capital in the group's (subgroup) companies.
Vali Beik noted: "Fortunately, this capital increase was approved by a majority vote, and shareholders will benefit from the capital increase as well as the tax exemptions provided for in the legal capacity."
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