Al Kathiri Holding's board of directors proposed on Saturday raising the company's capital to SAR 37.7 million from SAR 31.4 million through distributing 20 percent bonus shares at one bonus share for every five shares held.
The capital hike will be financed through capitalizing SAR 6.28 million from retained earnings and statutory reserve, the company said in a bourse statement on Sunday.
|
Key Figures of Capital Hike (Bonus Issue) |
|
|
Current Capital |
SAR 31.4 mln |
|
Number of shares |
3.14 mln shares |
|
Capital increase percent (%) |
20% (1 for every 5 outstanding shares) |
|
New Capital |
SAR 37.7 mln |
|
New number of shares |
3.77 mln shares |
|
Record date |
The company’s general assembly meeting date |
|
Reasons |
Enhance the company's capital base, growth rates and future expansions, and maintaining strong solvency |
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