AICTEC shareholders to vote on bonus issue to increase capital to SAR 25 mln on Aug. 18

14/07/2022 Argaam
Logo of AICTEC

Logo of AICTEC

Shareholders of Advance International Company for Communication and Information Technology (AICTEC) will vote on increasing the company’s capital from SAR 20 million to SAR 25 million through a 25% bonus shares (one-for-four shares), during the extraordinary general meeting (EGM) scheduled for Aug. 18, according to a bourse statement.

 

Details of Capital Increase

Current capital

SAR 20 mln

Number of shares

2 mln

Capital increase %

25% (one share for every four shares held)

Capital after increase

SAR 25 mln

Number of shares after increase

2.5 mln

Objective

To support the company's financial position and future expansions

Method of increase

Capitalizing SAR 5 mln from retained earnings.

Record date

Aug. 18 (Shareholders registered with Edaa by the close of the second trading day after the record date)
 

AICTEC began trading on Nomu-Parallel Market on Jan. 6, 2022.

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