The general assembly of Al-Tayyar Travel Group approved a 25% capital increase (from 1200to 1500million Saudi Riyals) on March 20, 2014.
The company will issue one bonus share for each four shares owned by registered shareholders, through the capitalization of SAR 300million of retained earnings.
The company’s outstanding shares will increase from 120to 150million shares as follows:
|
Al Tayaar Capital Raise |
|
|
SAR 1200 million |
Current capital |
|
120 million shares |
Number of Shares |
|
25% (1 bonus share for each 4 shares) |
Capital raise % |
|
SAR 1500 million |
Capital after increase |
|
150 million shares |
Shares after increase |
|
Extraordinary General Assembly day |
Record date |
The company’s board of directors also approved the current year’s dividends distribution, i.e. two riyals per share for each half of the year 2014 for a total sum of SAR 600 million.
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