Al Kathiri Holding
Shareholders of Al Kathiri Holding Co. approved a 25% capital hike to SAR 113.02 million from SAR 90.42 million through the issuance of bonus shares, during the extraordinary general assembly meeting (EGM) held on June 23.
The capital will be raised through the distribution of one bonus share for every four shares held and the transfer of SAR 22.6 million from retained earnings to the company's capital.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 90.42 mln |
|
Number of shares |
9.04 mln |
|
Hike (%) |
25% (1 share for every 4 outstanding shares) |
|
New Capital |
SAR 113.02 mln |
|
New number of shares |
11.30 mln |
|
Record date |
Shareholders owning shares on June 23 and are registered with the Securities Depository Center (Edaa) at the end of the second trading day following the due date |
|
Driver |
Support company’s financial position and future expansions |
|
Method |
Capitalizing SAR 22.60 mln from retained earnings account |
In a separate statement, the Saudi Exchange (Tadawul) said that the fluctuation limits for Al Kathiri Holding will be based on a share price of SAR 84.60. All outstanding orders will be cancelled.
Furthermore, Edaa will deposit the additional shares into the investors’ portfolios on June 28.
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