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Cartier Saada Secures Approval for DH80 Million Capital Raise
<p>Shareholders of Moroccan retailer Cartier Saada have unanimously approved a capital increase of up to 80 million dirhams, premium included. The boost can be carried out in one or several tranches, subject to the board’s implementation plan.</p><p>The extraordinary general meeting held in Marrakech on July 27, 2026 also authorized the amendment of the company’s articles of association to reflect the new share capital, contingent on the actual execution of the raise.</p>
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Key Details of the Capital Increase
- Amount approved: Up to DH80 million (including issuance premium).
- Decision date: July 27, 2026, during a mixed shareholders meeting in Marrakech.
- Implementation: Can be carried out in one or several steps, following the timeline set by the Board of Directors.
- Statutory amendment: Article 7 of the bylaws will be updated to reflect the new capital amount, contingent upon the actual raise.
- Board authority: The board has been delegated full powers to set subscription prices, determine the schedule, and coordinate with the Moroccan Capital Market Authority and Casablanca Stock Exchange.
The move signals confidence in Cartier Saada’s growth prospects and aligns with its strategic plan to strengthen its balance sheet.