Mouwasat shareholders approve 100% capital hike

One of Mouwasat Medical Services Co. hospitals

Mouwasat Medical Services Co.'s shareholders approved the board’s recommendation to increase capital by 100% to SAR 2 billion through a one-for-one bonus share distribution.

 

The approval took place during the extraordinary general meeting (EGM) held on Aug. 7, according to a statement to the Saudi Exchange (Tadawul).

 

Capital Increase Details

Current Capital

SAR 1 bln

Current Number of Shares

100 mln

Percentage of Increase

100% (1-for-1 bonus share distribution)

New Capital

SAR 2 bln

New Number of Shares

200 mln

Method

Through capitalizing SAR 1 bln of retained earnings and listing new shares of a previously listed share class by distributing one share for each owned share.

Reason

To enhance the company's strategic asset growth plan, expand its medical network, and emphasize its financial solvency and strength.

Record Date

Aug. 7, 2023 (Shareholders registered with Edaa by the end of the second trading day following the record date).
 

Fractional shares, if any, will be compiled into one portfolio and sold at the market price. The sale proceeds will be distributed among eligible shareholders pro rata within 30 days.

 

In a separate statement, Tadawul announced that the fluctuation limits for Mouwasat will be based on a share price of SAR 120.80. Moreover, the outstanding orders will be canceled.

 

The Securities Depository Center (Edaa) will deposit the bonus shares into investors’ portfolios by Aug. 10.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request