The capital of Afranet Company increased from $1.1M to $1.6M. The increase in the company’s capital was made from retained earnings. The company’s articles of association have also been amended following the holding of the general meeting.
According to Ideaagency, This company currently has 154 million shares of $1. The company’s previous capital was $1.1M. Afranet has increased its capital by $477,000.
The minutes of the Afranet extraordinary general meeting held on March 9, 2025, state that the board of directors have committed that all shareholders have participated in this capital increase in proportion to their shares.
The change in the company’s articles of association relates to the conditions for publishing content through digital platforms. According to the minutes of Afranet’s general assembly, the company requires written approval from the Center for the Development of Culture and Art in Cyberspace of the Ministry of Culture and Islamic Guidance in order to publish any content on a digital platform.
The text also states that Afranet can remove itself from the Ministry of Religious Affairs’ supervision by removing the subject of digital publishing from its list of activities, but it is required to comply with the announced laws as long as this activity continues.
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