Logo of Nofoth Food Products Co.
Shareholders of Nofoth Food Products Co. will vote on increasing the capital by 100% via a one-for-one bonus share issue.
The vote will take place in an extraordinary general meeting (EGM) on Jan. 7, according to a statement to Tadawul.
|
Details of Bonus Issue |
|
|
Current capital |
SAR 24 mln |
|
Current number of shares |
24 mln |
|
Nominal value |
SAR 1 |
|
Percentage of increase |
100% (one share for every share held) |
|
New capital |
SAR 48 mln |
|
Number of shares |
48 mln |
|
Method |
Capitalization of SAR 24 mln of retained earnings |
|
Reason |
To achieve the company’s strategy aimed at expansion and growth, as well as maximize total shareholders' equity, through boosting and diversifying brands and seizing the expected growth opportunities in the food sector in general. |
|
Record date |
Jan. 7, 2024 |
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