Logo of Perfect Presentation for Commercial Services Co. (2P)
Shareholders of Perfect Presentation for Commercial Services Co. (2P) approved the board recommendation to increase capital by 100% via a 1-for-1 bonus issue and the capitalization of SAR 150 million from the retained earnings.
The decision came during the extraordinary general meeting (EGM) held on June 25, according to a statement to Tadawul.
|
Capital Increase Details |
|
|
Current Capital |
SAR 150 mln |
|
Number of Shares |
150 mln |
|
Percentage of Increase |
100% |
|
Method |
One bonus share for every existing share via the recapitalization of SAR 150 mln from the retained earnings |
|
New Capital |
SAR 300 mln |
|
Number of Shares |
300 mln |
|
Reasons |
Boost the capital base as well as future growth plans |
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The fractional shares, if any, will be compiled in one portfolio, to be offered for sale at market price. The proceeds will be distributed among the eligible shareholders pro rata within 30 days.
Shareholders also approved authorizing the board to pay interim dividends on a quarterly, or semi-annual basis, for 2024.
The Saudi Exchange (Tadawul) announced that fluctuation limits will be based on a share price of SAR 14.68 as of today, June 26 and the outstanding orders will be canceled. Edaa will deposit the bonus shares into investor portfolios on June 30.
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