Thob Al Aseel shareholders approves bonus issue to raise capital to SAR 400 mln
Logo of Thob Al Aseel Co.
Shareholders of Thob Al Aseel Co. approved increasing the company's capital by 33.33%, during the extraordinary general meeting (EGM) held on Oct. 21.
The capital will increase to SAR 400 million from SAR 300 million through one-for-three bonus share distribution.
|
Key Figures of Capital Increase |
|
|
Current Capital |
SAR 300 mln |
|
Number of Shares |
30 mln |
|
Increase (%) |
33.33% (one share for every three shares held) |
|
New Capital |
SAR 400 mln |
|
New Number of Shares |
40 mln |
|
Eligibility Date |
Oct. 21 for shareholders registered with Edaa at the end of the second trading day following the eligibility date |
|
Driver |
Strengthening the company's capital to match the size of its business and future plans, as well as maintaining its solvency |
|
Method of Increase |
Capitalizing SAR 100 million from retained earnings and other reserves |
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