SAFCO: 33.33% Capital raise

A 50% capital raise of SAFCO Company (from SR 2.5bn to SR 3.3bn) was approved in the Extraordinary general assembly meeting that was held on 5 December, 2012 to support the company's future expansions.

The Capital increase is to take place by issuing one bonus share to each three shares owned by registered shareholders as SAR 833.3m of retained earnings will be capitalized.

By this issuance the number of outstanding shares will be increased from 250,000,000 shares to 333,333,333