Amlak shareholders to vote on capital hike via 12.5% bonus issue on May 20

Logo of Amlak International Finance Co.

Shareholders of Amlak International Finance Co. will vote on increasing the company’s capital from SAR 906 million to SAR 1.02 billion, by capitalizing the statutory reserve and a portion of the retained earnings to grant one bonus share for every eight shares held.

The voting will be held during the extraordinary general meeting (EGM) scheduled for May 20, the company said in a statement to Tadawul.

Fractional shares, if any, will be compiled in one portfolio and sold at the market price, while the proceeds will be distributed pro rata, within a period not exceeding 30 days.

Shareholders will also vote on the election of board members for the upcoming three-year term, starting June 4, 2024, and will vote on the formation of an audit committee for the same three-year term. The audit committee will include Nasser Al-Shibani, Abdulrazzaq Al-Kharji and Abdullah Al-Shamasi.