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Cartier Saada Proposes Up to 80 Million MAD Capital Increase Ahead of July AGM
Cartier Saada will ask its shareholders to approve a capital increase of up to 80 million Moroccan dirhams (including the issuance premium) at the Mixed General Assembly scheduled for 27 July 2026 in Marrakech. The raise can be executed in one or several tranches, with new shares paid entirely in cash and the preferential subscription right of existing shareholders being waived for new investors or the public.
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Cartier Saada announced that its shareholders will be asked to approve a capital increase of up to 80 million Moroccan dirhams (including the issuance premium). The vote is scheduled for the Mixed General Assembly on 27 July 2026 in Marrakech.
The increase may be carried out in one or several tranches, in line with the Moroccan Companies Code. All new shares will be fully paid in cash.
- The company plans to waive the preferential subscription right of existing shareholders, giving the new investors the opportunity to subscribe.
- A separate resolution also allows the right to be offered to the public for the whole amount of the increase.
New shares will carry current voting rights and will be treated the same as existing shares, entitling holders to any future profit distributions or reserve allocations once the operation is finalized.
If the total amount subscribed falls short of the 80 million MAD target, the capital increase will be limited to the actual amount received.
The Extraordinary General Assembly will also permit the allocation of the expenses related to the increase against the issuance premium, provided the operation is successfully completed.
The board of directors will be empowered to set the subscription price, timeline, and to coordinate the necessary filings with the Moroccan Capital Market Authority (AMMC), the Casablanca Stock Exchange, and other relevant parties.