BFPME Takes Crucial Decisions to Restructure and Prepare for New Development Phase
The Bank of Financing for Small and Medium-Sized Enterprises (BFPME), a joint-stock company with a capital of 100,000,000 dinars, made significant decisions during its Extraordinary General Assembly on March 28, 2024. These decisions aim to restructure its financial situation and prepare it for a new phase of development.
The first announced measure is the reduction of BFPME's capital from 100,000,000 dinars to 10,000,000 dinars. This reduction is achieved by decreasing the nominal value of shares from ten (10) dinars to one (1) dinar. The goal is to restore balance between the capital and assets of the Bank, following losses incurred.
In parallel, the Assembly decided to increase BFPME's capital by 59,060,628.521 dinars. This increase is achieved through the compensation of certain, liquid, and due claims in favor of the Tunisian State, resulting from debts owed by the Bank under the Japanese credit line retroceded to the Bank in 2008.
The operation aims to readjust the financial structure of BFPME, reduce losses, and prepare it for a new phase of development. It is worth noting that the Extraordinary General Assembly decided to waive the preferential subscription right for the entire capital increase.