2P shareholders approve 100% capital hike via bonus issue

Logo of Perfect Presentation for Commercial Services Co. (2P)

Shareholders of Perfect Presentation for Commercial Services Co. (2P) approved the board recommendation to increase capital by 100% via a 1-for-1 bonus issue and the capitalization of SAR 150 million from the retained earnings.

The decision came during the extraordinary general meeting (EGM) held on June 25, according to a statement to Tadawul.

Capital Increase Details
Current Capital	SAR 150 mln
Number of Shares	150 mln
Percentage of Increase	100%
Method	One bonus share for every existing share via the recapitalization of SAR 150 mln from the retained earnings
New Capital	SAR 300 mln
Number of Shares	300 mln
Reasons	Boost the capital base as well as future growth plans

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The fractional shares, if any, will be compiled in one portfolio, to be offered for sale at market price. The proceeds will be distributed among the eligible shareholders pro rata within 30 days.

Shareholders also approved authorizing the board to pay interim dividends on a quarterly, or semi-annual basis, for 2024.

The Saudi Exchange (Tadawul) announced that fluctuation limits will be based on a share price of SAR 14.68 as of today, June 26 and the outstanding orders will be canceled. Edaa will deposit the bonus shares into investor portfolios on June 30.

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