Extraordinary General Meeting of SODEK-SICAR
The Kasserine Economic Development Company, SODEK-SICAR, held an Extraordinary General Meeting on January 30, 2026. The extraordinary nature of the shareholders' meeting implies that there were resolutions that affect the company's capital structure.
Reduction of Capital
It was decided to reduce the capital from 6,236,055 to 5,687,255 dinars by canceling 109,760 shares with a nominal value of 5 dinars each, belonging to the BFPME.
Increase of Capital
At the same time, the Assembly voted to increase the capital by 999,335 dinars, from 5,687,255 to 6,686,590 dinars, through the issuance of 199,867 new ordinary shares with a nominal value of 5 dinars each. The new ordinary shares will be effective as of January 1, 2026.
Allocation of New Shares
The Extraordinary General Meeting decided that the 199,867 new shares issued will be reserved for:
- BH Bank: 66,600 shares for an amount of 333,000 dinars
- STB Bank: 66,600 shares for an amount of 333,000 dinars
- BNA Bank: 66,667 shares for an amount of 333,335 dinars
Waiver of Preferential Subscription Right
The Assembly also decided to waive the preferential subscription right for the entire capital increase. The three banks are committed to the rescue plan aimed at preserving the continuity of the company's activity. As a reminder, at the end of the 2024 fiscal year, SODEK-SICAR had excess equity of 492,354 TND, but accumulated significant historical losses.
Changes in Share Ownership
After this operation, the BFPME's share in SICAR's capital will decrease from 17.60% to 8.21%. In contrast, the shares of BH Bank, STB Bank, and BNA Bank will increase to 32.50%, 26.95%, and 21.40%, respectively.
Subscription Period
The subscription period is 15 days, starting from the date of publication in the JORT of the notice of information related to the capital increase. This period may be extended by decision of the Board of Directors, while respecting regulatory deadlines.
