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GUI recommends raising its paid up capital from $6.19 million to $8 million and proposes 5% cash dividends for the year 2013

2014-02-16

The BOD of Global United Insurance Company GUI held a meeting on 14/02/2014, whereby, recommended to the GA that will be holding a meeting on 18/03/2014, increasing the paid up capital of the company from $6.19 million to $8.00 million by distributing 17.5% stock dividends ( a total of 1.08 million share) and offering 11.79% of the company’s shares for private subscription ( a total of 0.73 million shares with $1 par value share and $0.35 premium per share) divided to 0.40 million shares to the Arab Orient Insurance Company and 0.33 million shares to GUI’s employees provident fund . On the other hand, the BOD also proposed 5% cash dividends for the company’s shareholders as for the GA meeting date.