Logo of Sure Global Tech Co.
Shareholders of Sure Global Tech Co. approved increasing capital by 50% through a 1-for-2 bonus share distribution, during the extraordinary general meeting (EGM) held on Nov. 13.
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Capital Increase Highlights |
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Current Capital |
SAR 51.30 mln |
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No. of Shares |
5.13 mln |
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Percentage of Increase |
50% (One bonus share for every two existing shares) |
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Method |
Bonus issue |
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New Capital |
SAR 76.95 mln |
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No. of Shares |
7.69 mln |
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Reasons |
To support strategic growth and financial position |
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Method |
Capitalizing SAR 25.65 mln from retained earnings |
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Record Date |
Nov. 13, 2023 (Shareholders of record and shareholders registered with Edaa by the close of the second trading day following the EGM) |
In a separate statement, the Saudi Exchange (Tadawul) set the daily trading fluctuation limit for the stock based on a share price of SAR 48.25 for today, Nov. 14. Accordingly, the outstanding orders will be canceled.
The Securities Depository Center Co. (Edaa) will deposit the bonus shares into investor portfolios by Nov. 16.
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