Logo of Al Kathiri
Al Kathiri Holding Co.’s board of directors recommended, on March 8, 2021, a 25% capital hike to SAR 113.02 million from SAR 90.42 million through the issuance of bonus shares.
The capital hike aims to support the financial position of the company and future expansions.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 90.42 mln |
|
Number of shares |
9.04 mln |
|
Hike (%) |
25% (1 share for every 4 outstanding shares) |
|
New Capital |
SAR 113.02 mln |
|
New number of shares |
11.30 mln |
|
Record date |
Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the due date |
|
Driver |
Support company’s financial position and future expansions |
|
Method |
Capitalizing SAR 22.60 mln from retained earnings account |
In the event that there are stock fractions, the fractions will be collected in one portfolio for all shareholders and sold at the market price. Their value will be distributed among the eligible shareholders for the grant, each according to the respective share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder.
The stock dividends are conditional upon the approval of the official authorities and the extraordinary general assembly on increasing the capital and the number of granted shares.
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