AI Summary
Logo of View United Real Estate Development Co.
View United Real Estate Development Co.’s board of directors recommended, on April 13, increasing capital via a 100% bonus issue (one bonus share for every share held), according to a statement to Tadawul.
In a separate filing to Tadawul, the company announced that the board proposed a cash dividend at 30% of capital, or SAR 0.3 a share, for 2024.
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Details of Capital Top-up |
|
|
Current Capital |
SAR 33 mln |
|
Number of Shares |
33 mln |
|
Nominal Value |
SAR 1/share |
|
Percentage of Capital |
100% |
|
New Capital |
SAR 66 mln |
|
Number of Shares |
66 mln |
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Method |
One bonus share for every share held |
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Financing |
Capitalizing SAR 880,460 from additional capital
Capitalizing SAR 18 mln from premium issue balance
Capitalizing SAR 14.12 mln from retained earnings
|
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Record Date |
Shareholders registered with Edaa on the second trading day following the extraordinary general meeting (EGM), which will be determined later |
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Reason |
Boosting solvency, supporting expansion plans, maximizing shareholders’ equity through business development and exploiting available opportunities in the real estate development sector |
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Cash Dividend |
|
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Current Capital |
SAR 33 mln |
|
Number of Shares |
33 mln |
|
Total Dividend |
SAR 9.90 mln |
|
Percentage of Capital |
30% (SAR 0.3 a share) |
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Record Date |
Shareholders of record by the close of trading on the EGM date and those registered with Edaa by the end of the second trading day following the EGM, which will be determined later |
|
Payment Date |
To be determined later |
Share fractions, if any, will be compiled in one portfolio and offered at market price, with proceeds to be distributed pro rata within 30 days.
The capital increase and dividend payment are subject to the approvals of competent authorities and upcoming EGM.
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