Logo of Aljazira Takaful Taawuni Co.
AlJazira Takaful Taawuni Co.’s shareholders approved the board of directors’ recommendation to increase capital to SAR 550 million from SAR 470.66 million through 16.86% bonus shares, during the extraordinary general assembly meeting (EGM) held on Nov. 30.
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Key Figures of the Capital Hike |
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Current capital |
SAR 470.66 mln |
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Number of shares |
47.07 mln |
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Hike (%) |
16.86% (0.1686 share for every 1 outstanding share) |
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New capital |
SAR 550 mln |
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New number of shares |
55 mln |
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Method |
Capitalizing SAR 79.34 mln from retained earnings account |
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Record date |
Nov. 30, 2021 (Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM) |
In a separate statement, Tadawul announced that the fluctuation limits for Aljazira Takaful will be based on a share price of SAR 22 and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investors’ portfolios by Dec. 5.
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