SACO shareholders to vote on capital hike on Dec. 17

21/11/2018 Argaam

 

Saudi Company for Hardware’s (SACO) shareholders are set to vote on a 50 percent capital hike to SAR 360 million from SAR 240 million, on Dec. 17, 2018.

 

Shareholders of record at the extraordinary general assembly meeting, including those registered at the Securities Depository Center two days after this date, will be eligible to receive the bonus shares.

 

Key Figures of Capital Hike

Current Capital

SAR 240 mln

Number of shares

24 mln shares

Hike (%)

50% (1 for every 2 shares)

New Capital

SAR 360 mln

New number of shares

36 mln shares

Method

Bonus shares

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