Al-Jouf Mineral Water shareholders nod 50% capital hike via bonus issue

Logo of Al-Jouf Mineral Water Bottling Co.

Al-Jouf Mineral Water Bottling Co.’s shareholders approved increasing capital by 50% through a one-for-two bonus share distribution, during the extraordinary general meeting (EGM) held on Jan. 24.

 

Details of Bonus Issue

Current Capital

SAR 31.25 mln

Number of Shares

3.13 mln

Percentage of Increase

50% (1 bonus share for every 2 shares held)

New Capital

SAR 46.88 mln

New Number of Shares

4.69 mln

Reason

To support and enhance the company’s future activities.

Method

Capitalizing SAR 15.63 mln from retained earnings account.

Record Date

Jan. 24, 2023, including shareholders of record in the issuer’s register with the Securities Depository Center Co. (Edaa) by the close of the second trading day following this date.
 

In a separate statement, the Saudi Exchange (Tadawul) said that the fluctuation rate for the company's shares was calculated based on SAR 27 for today, Jan. 25, as existing orders were canceled.

 

It added that the Securities Depository Center Co. (Edaa) will add the bonus shares in the shareholders’ portfolios before the start of trading session on Jan. 29

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