Lana board proposes 50% capital increase via bonus issue

Logo of Lana Medical Co.


Lana Medical Co.’s board of directors recommended a 50% capital increase from SAR 36 million to SAR 54 million by issuing a bonus share for every two existing shares owned, according to a statement to Tadawul.

 

Capital Increase Details

Current Capital

SAR 36 mln

Number of Shares

3.6 mln

Percentage of Increase

50%

Method

Granting one bonus share for every two shares owned. The capital increase will be financed from retained earnings

New Capital

SAR 54 mln

Number of Shares

5.4 mln

Reasons

To partially meet financing obligations for the company's current, future, and expansion projects

Record Date

Shareholders registered with Edaa on the second day following the extraordinary general meeting (EGM), which will be determined later

 
 

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

 

The capital hike is subject to the approval of the competent authorities and the EGM.

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