Logo of Alhasoob Co.
Alhasoob Co.’s shareholders approved the board’s recommendation to increase capital by 100% by capitalizing SAR 14 million from the retained earnings, and via a one-for-one bonus share distribution.
The decision came during the the extraordinary general meeting (EGM) held on June 7, the company said in a statement to Tadawul.
|
Capital Increase Details |
|
|
Current Capital |
SAR 14 mln |
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Number of Shares |
1.4 mln |
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Percentage of Increase |
100% |
|
Method |
Capitalizing SAR 14 million from retained earnings, and 1-for-1 bonus share distribution to shareholders of record |
|
New Capital |
SAR 28 mln |
|
Number of Shares |
2.8 mln |
|
Reason |
To boost the company’s capital and maximize the total return to shareholders in order to support the company's future activities |
|
Record Date |
June 7, and shareholders registered with Edaa by the end of the second trading day following the EGM |
Fluctuation limits will be based on a share price of SAR 107 for today, June 8, and the outstanding orders will be cancelled, the Saudi Exchange (Tadawul) said in a statement.
The Securities Depository Center Co. (Edaa) will add the bonus shares to the shareholder portfolios before the start of trading on June 12.
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