Saudi Aramco shareholders to discuss 1:10 bonus shares on May 8

Logo of Saudi Aramco

Shareholders of Saudi Aramco will vote on increasing the company’s capital to SAR 90 billion from SAR 75 billion through a 1-for-10 bonus-share distribution during an extraordinary general meeting (EGM) scheduled for May 8, according to a Tadawul statement.

Capital Increase Highlights – Bonus Issue
Current capital*	SAR 75 bln
New capital	SAR 90 bln
Percentage of increase	20%
Number of shares	220 bln
New number of shares	242 bln
Bonus issue	1 share for every 10 shares held
Reason	To maximize shareholders’ returns via the distribution of sustainable and progressive dividends, in line with future plans and growth in free cash flows, in addition to creating long-term value through investments in available opportunities
Method	Capitalization of SAR 15 billion from retained earnings

*There is no fair value for Saudi Aramco shares

In case of fractional shares, they will be compiled in one portfolio and will be sold at market price. Proceeds will be distributed to shareholders pro rata, within 30 days maximum, the giant oil producer said in a statement to Tadawul.

The eligibility will be for shareholders who own the shares by the close of trading on the EGM date, and who are registered with the Securities Depository Center Co. (Edaa) by the close of the second trading following EGM date.

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