Logo of AlJazira Takaful Taawuni Co.
Shareholders of AlJazira Takaful Taawuni Co. will discuss the board’s recommendation to increase capital by 20% to SAR 660 million, through a one-for-five bonus share distribution, during the extraordinary general meeting (EGM) that will be held on Sept. 25, according to a statement to Tadawul.
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Details of Capital Increase |
|
|
Current capital |
SAR 550 mln |
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Number of shares |
55 mln |
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Percentage of increase |
20% |
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Method |
Distributing 1 share for every 5 shares held through capitalizing SAR 110 mln from the share premium account. |
|
New capital |
SAR 660 mln |
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Number of shares |
66 mln |
|
Reason |
To strengthen the company’s financial efficiency and competitiveness. |
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Record date |
Sept. 25, 2023 - For shareholders on record date and those registered with Edaa by the end of second trading day after the EGM. |
Fractional shares, if any, will be compiled in one portfolio and sold at market price. The sale proceeds will be distributed among eligible shareholders pro rata within 30 days.
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