Shareholders of Abdulla Saad Abo Moati for Bookstore Co. will vote Aug. 21 on the board’s recommendation to raise the company’s capital to SAR 200 million from SAR 160 million through the issuance of bonus shares.
The company will distribute 25 percent bonus shares - or one bonus share for every four shares held, the bookstore operator said in a bourse statement.
Shareholders will also vote on a 5 percent cash dividend at SAR 0.5 per share for the fiscal year ending Mar. 31, 2019.
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Key Figures of the Capital Hike |
|
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Current Capital |
SAR 160 mln |
|
Number of shares |
16 mln shares |
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Hike (%) |
25% (1 share for every 4 shares held) |
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New Capital |
SAR 200 mln |
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New number of shares |
20 mln shares |
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Method |
Capitalizing SAR 11.24 mln from statutory reserve and SAR 28.76 mln from retained earnings |
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Driver |
To implement future plans |
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Dividend Details |
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Dividend |
SAR 8 mln |
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Percentage of capital |
5% (SAR 0.5 per share) |
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Record date |
Aug. 21 |
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Payment date |
To be determined |
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