ELEMENT LIST EXPLANATION
Introduction Alandalus Property Company announces the Board of Directors’ recommendation to increase the Company's capital by granting shares as follows:
Date of Board Meeting 2021-04-29 Corresponding to 1442-09-17
Capital before increase SR 700,000,000
Capital after increase SR 933,333,330
Percentage of Capital increase 33.33 %
Number of shares before Capital increase 70000000
Number of shares after Capital increase 93333333
Reasons for the increase Solidify and strengthen the Company capital base and future business activities
Number of Shares Granted per Exiting Share One share for every three owned shares
Nature and Value of Reserves Used in the Capitalization The increase will be made by capitalizing SAR 233.33 million of retained earnings and statutory reserve
Eligibility Date the eligibility is for shareholders who own the shares on the end of the trading day of the Company’s Extraordinary General Assembly (to be determined later subject to regulatory approvals) as per the Company’s Shareholders Registered in the company’s shareholder record at the Depository Center at the end of second trading day following the date of the said General Assembly.
Fractional Shares Fraction bonus shares will be aggregated in one portfolio for all shareholders and sold at the market price, sale proceeds of which will be distributed to shareholders who are entitled to bonus shares. On pro rata basis within a period not exceeding 30 days from the date of determining the due new shares for each shareholder .
Approvals The bonus shares shall be subject to approval of the official entities and the Extraordinary General Assembly regarding the capital increase and the number of the bonus shares.

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