Logo of Scientific and Medical Equipment House Co.
Scientific and Medical Equipment House Co.’s (Equipment House) board of directors proposed today, June 11, increasing capital by 50% through the distribution of one bonus share for every two shares held.
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Bonus Issue Highlights |
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Current capital |
SAR 200 mln |
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Number of shares |
20 mln |
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Percentage of increase |
50% |
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Method |
Distributing one share for every two shares held by capitalizing SAR 100 mln from retained earnings.
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New capital |
SAR 300 mln |
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New number of shares |
30 mln |
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Reason |
To support the company’s strategic expansion, highlighting its robust financial stability and the resilience of its financial standing. |
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Record date |
Shareholders on the date of extraordinary general meeting (EGM), which will approve the capital top-up, and who are registered with the Securities Depository Center (Edaa) by the close of the second trading day following the EGM date, to be announced later |
In a statement to the Saudi Exchange (Tadawul), the company pointed out that fraction shares, if any, will be collected into one investment portfolio to be then sold at market price.
The value of the sold portfolio will be proportionately distributed to the eligible shareholders within 30 days as of the date of the new shares allocation.
The capital increase is subject to obtaining all necessary approvals from the competent authorities and the shareholders.
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