Halwani Bros Co.’s shareholders are set to vote on a 10 percent capital hike to SAR 314.29 million from SAR 285.71 million through the issue bonus shares during the general assembly meeting that will be held on Aug. 5, 2019.
The capital hike aims to boost the company’s capital to match its business size and future plans.
The process will take place through capitalizing SAR 28..57 mln from retained earnings account
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Key Figures of the Capital Hike |
|
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Current Capital |
SAR 285.71 mln |
|
Number of shares |
28.57 mln |
|
Hike (%) |
10% (1 share for every 10 shares) |
|
New Capital |
SAR 314.29 |
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New number of shares |
31.42 mln |
|
Record date |
Aug. 5, 2019 |
|
Method |
Capitalizing SAR 28.57 mln from retained earnings account |
|
Driver |
To boost the company’s capital to match its business size and future plans. |
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