Logo of Raoom Trading Co.
Raoom Trading Co.’s shareholders approved the board’s recommendation to increase capital by 25%, or SAR 12.5 million to SAR 62.5 million, through issuing one bonus share for every four shares held, during an extraordinary general meeting (EGM), held on Aug. 7, according to a bourse filing.
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Details of Capital Increase |
|
|
Current Capital |
SAR 50 mln |
|
Number of Shares |
5 mln |
|
Increase% |
25% (one share for every four shares held) |
|
New Capital |
SAR 62.50 mln |
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New Number of Shares |
6.25 mln |
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Method |
Through capitalizing SAR 12.5 million from retained earnings |
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Record Date |
Aug. 7, 2022 (Including those registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM date) |
|
Reason |
To strengthen the company's resources, which will contribute to achieving strong growth rates over the coming years |
The fractional shares will be compiled in one portfolio for all shareholders and sold at the market price. Proceeds will be distributed to the entitled shareholders pro rata within 30 days.
The fluctuation limits will be based on a share price of SAR 125.20 and the outstanding orders will be canceled.
Edaa will deposit the shares into the investor’s portfolios by Aug. 10.
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