Logo of Lana Medical Co.
Lana Medical Co.’s board of directors recommended a 50% capital increase from SAR 36 million to SAR 54 million by issuing a bonus share for every two existing shares owned, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 36 mln |
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Number of Shares |
3.6 mln |
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Percentage of Increase |
50% |
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Method |
Granting one bonus share for every two shares owned. The capital increase will be financed from retained earnings. |
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New Capital |
SAR 54 mln |
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Number of Shares |
5.4 mln |
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Reasons |
To provide part of the financing requirements for the company's current, future, and expansion projects |
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Record Date |
Shareholders of record and those registered with Edaa on the second day following the extraordinary general meeting (EGM), which will be determined later |
Fractional shares, if any, will be compiled in one portfolio and will be sold at market price. The proceeds will be distributed pro rata among eligible shareholders within 30 days.
The capital hike is subject to the approval of the competent authorities and the EGM.
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