Logo of Al-Jouf Mineral Water Bottling Co.
Al-Jouf Mineral Water Bottling Co.’s board of directors recommended today, June 19, increasing the company’s capital by 50% through a one-for-two bonus share distribution.
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Capital Increase Details – Bonus Issue |
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Current Capital |
SAR 31.25 mln |
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Number of Shares |
3.13 mln |
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Percentage of Increase |
50% (1 bonus share for every 2 shares held) |
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New Capital |
SAR 46.88 mln |
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Number of Shares |
4.69 mln |
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Reason |
To enhance the company’s resources and achieve strong growth rates in the coming years |
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Method |
To capitalize part of retained earnings |
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Record Date |
Shareholders of record in the issuer’s register with the Securities Depository Center Co. (Edaa) by the close of the second trading day following the record date |
Fractional shares, if any, will be collected in a single investment portfolio and will be sold at market price within 30 days on a pro rata basis from the date of determining the allocation of new shares for each shareholder, the company noted.
The proposed stock dividend is subject to the approval of the regulatory authorities and the company’s extraordinary general assembly meeting (EGM).
The stock began trading on Nomu-Parallel Market on March 2, Argaam earlier reported.
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