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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