Sodecoton moves capital from 4 to 23 billion CFAF

According to information presented by Sodecoton Tuesday, the company has proceeded with the increase of its capital.

This was revealed at the end of the last General Assembly of the company, held on July 22, 2014, under the chairmanship of Jean Abate Edi'i, President of the Board of Directors of the company and Abdou Namba, CEO.

Originally at 4,529 billion CFAF, Sodecoton shareholders decided to increase the capital to 19,087 billion from CFAF, which will bring the actual social capital of the company to 23,643 billion CFA. It is "divided into 452.940 shares of 52.200 FCFA of value rated each", says Sodecoton.

The combined General meeting of shareholders held on July 22 also took knowledge of the results of the 2013 fiscal year, resulting in a net profit of 3,583 billion CFA.

By adding the previous postponement of 5.9 billion CFA it will register an amount of 8,432 billion CFA, notes Jean Abate Edi'i, CAC the Sodecoton and also Governor of the northern region.