Alhasoob shareholders OK 100% capital hike via bonus issue

Logo of Alhasoob Co.

Alhasoob Co.’s shareholders approved the board’s recommendation to increase capital by 100% by capitalizing SAR 14 million from the retained earnings, and via a one-for-one bonus share distribution.

The decision came during the the extraordinary general meeting (EGM) held on June 7, the company said in a statement to Tadawul.

Capital Increase Details
Current Capital	SAR 14 mln
Number of Shares	1.4 mln
Percentage of Increase	100%
Method	Capitalizing SAR 14 million from retained earnings, and 1-for-1 bonus share distribution to shareholders of record
New Capital	SAR 28 mln
Number of Shares	2.8 mln
Reason	To boost the company’s capital and maximize the total return to shareholders in order to support the company's future activities
Record Date	June 7, and shareholders registered with Edaa by the end of the second trading day following the EGM

Fluctuation limits will be based on a share price of SAR 107 for today, June 8, and the outstanding orders will be cancelled, the Saudi Exchange (Tadawul) said in a statement.

The Securities Depository Center Co. (Edaa) will add the bonus shares to the shareholder portfolios before the start of trading on June 12.

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