Leen Alkhair EGM to vote on capital hike via bonus issue on Oct. 25

01/10/2023 Argaam

Leen Alkhair EGM to vote on capital hike via bonus issue on Oct. 25

Logo of Leen Alkhair Trading Co.

Leen Alkhair Trading Co.'s shareholders will vote on the board's recommendation to increase capital by 100% from SAR 40.8 million to SAR 81.6 million by capitalizing a portion of retained earnings, during an extraordinary general meeting (EGM) on Oct. 25, the company said in a statement to Tadawul.

 

Capital Increase Details

Current Capital

SAR 40.80 mln

Current Number of Shares

4.08 mln

Percentage of Capital Increase

100%

Method

One-for-one bonus issue, by capitalizing SAR 40.8 mln from retained earnings

New Capital

SAR 81.60 mln

New Number of Shares

8.16 mln

Reason

Enhancing the strategic growth plan, future expansion needs and aspirations, and emphasizing its financial solvency and the strength of its financial position

Record Date

Oct. 25, 2023 (Shareholders of record and those registered with Edaa on the second trading day following the EGM date)

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