Logo of Thob Al Aseel Co.
Shareholders of Thob Al Aseel Co. approved increasing the company's capital by 33.33%, during the extraordinary general meeting (EGM) held on Oct. 21.
The capital will increase to SAR 400 million from SAR 300 million through one-for-three bonus share distribution.
|
Key Figures of Capital Increase |
|
|
Current Capital |
SAR 300 mln |
|
Number of Shares |
30 mln |
|
Increase (%) |
33.33% (one share for every three shares held) |
|
New Capital |
SAR 400 mln |
|
New Number of Shares |
40 mln |
|
Eligibility Date |
Oct. 21 for shareholders registered with Edaa at the end of the second trading day following the eligibility date |
|
Driver |
Strengthening the company's capital to match the size of its business and future plans, as well as maintaining its solvency |
|
Method of Increase |
Capitalizing SAR 100 million from retained earnings and other reserves |
Comments
{{DisplayName}}
{{ElapsedTime}}