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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Wright Reports

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Marocaine du Commerce Exterieur Banque BMCE Bank SA Proposes Capital Increase by Issuance of 7.5 Million of New Shares

Monday, 19 Nov 2012 07:00pm EST 

Marocaine du Commerce Exterieur Banque BMCE Bank SA announced that the Company's Board of Directors proposed on September 27, 2012 the capital increase from MAD 1,719,633,900 to MAD 1,794,633,900 with par value of MAD 75.00 million. The Company will conduct the capital increase by the issuance of 7,500,000 new shares, fully paid-up, of par value of MAD 10.00 per share, accompanied by additional paid-in capital of MAD 190.00 per share, thus giving the amount of MAD 200.00 per share and the global amount of the capital increase of MAD 1.50 billion including share premium. Accordingly, Marocaine du Commerce Exterieur Banque BMCE Bank SA has proposed to reserve the capital increase to the Company's reference shareholders and thus cancel the preferential subscription rights. The Company's new shares will be identical to the existing shares and will be entitled to a dividend as of January 1, 2012. 

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