Catalyst Partners Middle East (CPME) held a Board of Directors meeting on Saturday and approved a series of strategic decisions to enhance its market position and expand operations through key acquisitions and a significant capital increase.
According to the Fair Value Report by Keyes Financial Consultancy:
- Catalyst Partners Middle East is valued at EGP 235 million.
- Qardy for Software Applications is valued at EGP 1.16 billion, with an approved share swap ratio of 3.87 Catalyst shares for each Qardy share.
- Catalyst Partners Holding is valued at EGP 1.64 billion, with a swap ratio of 32.87 Catalyst shares for each Holding share.
In a statement to the Egyptian Stock Exchange, the company announced a proposal to the Extraordinary General Assembly to raise the authorized capital from EGP 1 billion to EGP 14 billion in preparation for these acquisitions.
The Board also approved increasing the issued capital by up to 280,490,199 shares, to complete the acquisitions of Qardy and Catalyst Partners Holding through a share swap, providing shareholders of the acquired companies with shares in Catalyst Partners Middle East as per the approved ratios.
The Board unanimously approved the disclosure report in accordance with Article 48 of the listing and delisting regulations, and authorized the Chairman or Managing Director to sign all related documents and coordinate with the Financial Regulatory Authority.
Additionally, the Board authorized the Chairman to convene the Extraordinary General Assembly, set its date and location, and define the meeting agenda.
