T2S Group Holding will ask shareholders to approve a MAD 142.53 million capital increase at an extraordinary general meeting on August 17.
The company plans to issue 798,944 new shares at MAD 178.40 each. That is 20% below the MAD 223 share price used in its initial public offering (IPO).
All of the new shares will go to Abderraouf Sordo, the company’s executive. Shareholders will vote on removing their priority right to buy the new shares so they can be allocated to him.
The meeting will take place at the company’s headquarters in Casablanca and online. It follows the completion of the company’s IPO on July 27, 2026.
The new shares must be paid for in cash and will have the same rights as the existing shares once the capital increase is completed.
The company says the full amount must be subscribed. If not, the capital increase will not go ahead.
Shareholders will also vote on giving the board of directors the power to set the final timetable, complete the required steps with the Moroccan Capital Market Authority (AMMC) and the Casablanca Stock Exchange, and confirm the completion of the deal.
Another item on the agenda is a change to the company’s articles of association to reflect the new share capital and the updated number of shares.
Before the proposed capital increase, T2S Group Holding’s share capital stands at MAD 1.089 billion. Shareholders will also decide whether the costs of the capital increase should be deducted from the related share premium.
