Saudi Ceramic Co.’s shareholders approved the board’s recommendation on a 33.3% capital hike to SAR 800 million from SAR 600 million, during the extraordinary general meeting (EGM) held on March 30, 2021.
The capital hike will take place through a bonus share distribution at one bonus share for every three shares held. The process will be financed by transferring SAR 200 million from retained earnings.
The price fluctuation limit will be based on a share price of SAR 41.25 on March 31, 2021.
The additional shares will be deposited into investor's portfolios before the start of trading on Sunday, April 4, 2021.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 600 mln |
|
Number of shares |
60 mln |
|
Hike (%) |
33.3% (one share for every existing three shares) |
|
New Capital |
SAR 800 mln |
|
New number of shares |
80 mln |
|
Record date |
March 30, 2021 (Shareholders’ registered at the Edaa at the end of the second trading day following the EGM) |
|
Method |
Capitalization of SAR 200 million from retained earnings |
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