Thob Al Aseel Co.’s general assembly has approved a 100 percent capital hike to SAR 300 million from SAR 150million through the issue of one bonus share for every one share held.
The capital hike will be financed through capitalizing SAR 30 million from retained earnings account, SAR 119.6 million from other reserves account with SAR 404 to be paid from general reserve, the company said in a bourse statement.
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Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 150 mln |
|
Number of shares |
15 mln shares |
|
Hike (%) |
100% (1 for every 1 shares) |
|
New Capital |
SAR 300 mln |
|
New number of shares |
30 mln shares |
|
Method |
Bonus shares |
|
Record date |
July 4, 2018 |
|
Driver |
Increasing capital base, supporting expansion plans and solvency margin. |
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