Logo of Scientific & Medical Equipment House Co. (Equipment House)
Scientific & Medical Equipment House Co.'s shareholders will vote on increasing capital by 50% through 1-for-2 bonus share distribution, during an extraordinary general assembly meeting, scheduled to be held on September 3, the company said in a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 200 million |
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Number of Shares |
20 mln shares |
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Percentage of Increase |
50% |
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Method |
Distributing one share per each two shares held, through capitalization of SAR 100 mln from retained earnings |
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New Capital |
SAR 300 mln |
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Number of Shares |
30 mln shares |
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Reason |
To enhance the company's strategic growth and to emphasize the company's financial solvency and strength of its financial position. |
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Record Date
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September 3, 2023 (shareholders of record with Edaa at the end of the second trading day following the EGM date). |
In the event that there are stock fractions, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed among the eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each shareholder, according to the company's statement.
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