Equipment House board recommends 50% capital hike via bonus issue

Logo of Scientific and Medical Equipment House Co.

Scientific and Medical Equipment House Co.’s (Equipment House) board of directors proposed today, June 11, increasing capital by 50% through the distribution of one bonus share for every two shares held. 

 

Bonus Issue Highlights 

Current capital

SAR 200 mln

Number of shares

20 mln

Percentage of increase

50% 

Method

 

Distributing one share for every two shares held by capitalizing SAR 100 mln from retained earnings.

 

 

New capital

SAR 300 mln

New number of shares

30 mln

Reason

To support the company’s strategic expansion, highlighting its robust financial stability and the resilience of its financial standing.

Record date

Shareholders on the date of extraordinary general meeting (EGM), which will approve the capital top-up, and who are registered with the Securities Depository Center (Edaa) by the close of the second trading day following the EGM date, to be announced later
 

In a statement to the Saudi Exchange (Tadawul), the company pointed out that fraction shares, if any, will be collected into one investment portfolio to be then sold at market price.

 

The value of the sold portfolio will be proportionately distributed to the eligible shareholders within 30 days as of the date of the new shares allocation.

 

The capital increase is subject to obtaining all necessary approvals from the competent authorities and the shareholders.

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