Logo of Shatirah House Restaurant Co. (Burgerizzr)
Shatirah House Restaurant Co.’s (Burgerizzr) shareholders approved, on June 30, the board’s recommendation to increase capital by 40% via a bonus issue at two shares for every five shares held, according to a bourse filing.
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Bonus Issues Details |
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Current Capital |
SAR 25 mln |
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Number of Shares |
2.5 mln |
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Percentage of Increase |
40% (Two bonus shares for every five shares held) |
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New Capital |
SAR 35 mln |
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Number of Shares |
3.5 mln |
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Reason |
To keep up with company's growth, expand its business and enhance its financial position |
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Method |
Through capitalizing SAR 10 million from retained earnings |
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Record Date |
June 30, 2022, including shareholders registered with Edaa on the second trading day after the EGM. |
In a statement, the Saudi Exchange (Tadawul) said that Burgerizzr’s daily trading fluctuation limit after its capital raise will be based on a share price of SAR 126.40 as of today, July 3. Accordingly, the outstanding orders will be canceled.
The Securities Depository Center (Edaa) will deposit the bonus shares into investor portfolios on July 5.
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