Arabian Cement General Assembly approved 25% capital raise (from SAR 800 m to SAR 1000m) in a meeting held today.

The Capital raise is to take place by issuing one bonus share to each 4 shares owned by registered shareholders.

By this issuance the number of outstanding shares will increase from 80 m shares to 100 m.

The GA also approved 17.5% cash dividends for H2 of 2013 as shown in the following table:

 

Capital raise details

SAR 800 mn

Current capital

80 mn shares

Number of shares

25% ( 1/4 shares)

Capital raise (%)

SAR 1000 mn

New capital

100 mn shares

# of Shares after raise

April, 01, 2014

Record date
 

Cash dividends details

SAR 800 mn

Current capital

80 mn shares

Number of shares

SAR 140 mn

H2 dividends

17.5% ( SAR 1.75/share)

% of capital

April, 01, 2014

Record date

April, 17, 2014

Payment date

2013 cash dividends

SAR 240 mn

Dividends

30% (SAR 3/share)

% of capital
 
reserve to SAR 500m by transferring SAR 100m from shares premium account.

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