Saudi Automotive Services Co.’s (SASCO) general assembly approved an 11.11percent capital increase to SAR 600 million from SAR 540 million through the issue of one bonus share for every nine shares held.
Shareholders also approved a 5 percent cash dividend for the fiscal year 2017, at SAR 0.5 per share, amounting to SAR 27 million.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 540 mln |
|
Number of shares |
54 mln shares |
|
Reduction (%) |
11.11% (1 for every 9 shares) |
|
New Capital |
SAR 600 mln |
|
New number of shares |
60 mln shares |
|
Record date |
May 22, 2018 |
|
Driver |
Financing expansions and maintaining solvency margin |
|
Dividend Details (FY 2017) |
|
|
Dividend |
SAR 27 mln |
|
Percentage of capital |
5% (SAR 0.5/share) |
|
Record date |
May 22, 2018 |
|
Payment day |
To be determined |
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