UCA approves 40% capital raise

Assurance company (UCA) (from SAR 200m to SAR 280m) was approved in the Extraordinary general assembly meeting that was held on 26/6/2013 to support the company's future expansions and increase its solvency margin.

The Capital increase is to take place by issuing two bonus shares for each five shares owned by registered shareholders as SAR 80m of retained earnings will be capitalized.

By this issuance the number of outstanding shares will be increased from 20,000,000 shares to 28,000,000 shares.