Logo of Al Hasoob Trading Co.
Alhasoob Co.’s board of directors recommended increasing capital by 100% via a one-for-one bonus share distribution, according to a bourse statement.
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Details of Capital Increase – Bonus Issue |
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Current Capital |
SAR 14 mln |
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Number of Shares |
1.4 mln |
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Percentage of Capital Increase |
100% |
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Method |
Capitalizing SAR 14 million from retained earnings and distrusting one share for each share held on record date |
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New Capital |
SAR 28 mln |
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Number of Shares |
2.8 mln |
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Reason |
To boost the company’s capital and maximize the total return to shareholders in order to support the company's future activities |
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Record date |
Shareholders of record by the end of the trading day of the company’s extraordinary general meeting (EGM) date, which will be announced later, and those registered at the Securities Depository Center Company (Edaa) by the end of the second trading day following the EGM |
The proposed capital increase is subject to the approvals of the competent authorities and the EGM.
Fractional shares, if any, will be sold at market price, and the proceeds will be distributed to eligible shareholders pro rata within 30 days from the allocation of new shares.
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