Logo of Intelligent Oud Co. for Trading
Shareholders of Intelligent Oud Co. for Trading approved the board’s recommendation to increase capital by 20% via a 1-for-5 bonus share distribution and the capitalization of SAR 3.25 million of the retained earnings, during the extraordinary general meeting (EGM) held on Aug 15, according to a statement to Tadawul.
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Capital Increase Details |
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Capital |
SAR 16.25 mln |
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Number of Shares |
1.625 mln |
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Percentage of Increase |
20% (One bonus share for every five existing shares) |
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New Capital |
SAR 19.50 mln |
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Number of Shares |
1.95 mln |
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Method |
Capitalizing SAR 3.25 mln of retained earnings |
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Objectives |
To boost capital base and enhance growth plans |
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Record Date |
Aug. 15, 2024, for shareholders of record registered with Edaa on the second trading day following the record date |
Fractional shares, if any, will be compiled in one portfolio and offered at the market price, with proceeds distributed to eligible shareholders pro rata in 30 days maximum.
The daily trading fluctuation limits after the capital increase will be based on a share price of SAR 34.15 as of today, Aug. 18, the Saudi Exchange (Tadawul) said in a statement.
Accordingly, the outstanding orders will be canceled.
The Securities Depository Center (Edaa) will deposit the additional shares into investor portfolios by Aug. 20.
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