Logo of Shatirah House Restaurant Co.’s (Burgerizzr)
Shatirah House Restaurant Co.’s (Burgerizzr) board of directors recommended a capital increase to SAR 35 million from SAR 25 million through a 40% bonus issue, according to a bourse filing.
The capital increase will be financed through the capitalization of SAR 15 billion from the retained earnings via distributing three bonus shares for every five shares held.
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Capital Increase Details – Bonus Issue |
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Current Capital |
SAR 25 mln |
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Number of Shares |
2.5 mln |
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Percentage of Increase |
40% (two bonus shares for every five shares held) |
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New Capital |
SAR 35 mln |
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Number of Shares |
3.5 mln |
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Reason |
Boosting the company's resources, accelerating growth plans over the coming years and strengthening its market position |
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Method |
The capitalization of SAR 10 billion from the retained earnings |
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Record Date |
(Shareholders of record with the Securities Depository Center Company (Edaa) at the end of the second trading day) |
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