Logo of Qomel Co.
Qomel Co. board of directors recommended on Sept. 10, a 100% capital increase through capitalizing SAR 32.6 million from share premium account and SAR 2.4 million from retained earnings.
According to a statement to Tadawul, the capital hike will be through granting one share for every existing one share owned.
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Details |
|
|
Current Capital |
SAR 35 mln |
|
Number of Shares |
3.5 mln |
|
Percentage of Increase |
100% (one share for every existing one share) |
|
Method |
Granting one share for every existing one share, capitalizing SAR 32.6 million from share premium account and SAR 2.4 million from retained earnings. |
|
New Capital |
SAR 70 mln |
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Number of Shares |
7 mln |
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Reasons |
Enhancing the strategic growth plan, future expansion needs, and aspirations, and emphasizing its financial solvency and the strength of its financial position |
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Record Date |
Shareholders of record and those registered with Edaa on the second day following the general meeting date, which will be determined later |
Fractional shares, if any, will be compiled in one portfolio, and will be sold at market price with proceeds to be distributed pro rata among eligible shareholders within 30 days.
The capital hike is subject to the approval of the competent authorities and the extraordinary general meeting (EGM).
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