Logo of Bupa Arabia for Cooperative Insurance Co.
Shareholders of Bupa Arabia for Cooperative Insurance Co. will vote on increasing capital to SAR 1.5 billion from SAR 1.2 billion through a 25% bonus share distribution during an extraordinary general assembly meeting (EGM) scheduled for Dec. 22.
Bupa Arabia will distribute one bonus share for every four shares held, the insurer said in a statement to Tadawul today, Nov. 15.
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Bonus Issue Details |
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Current Capital |
SAR 1.2 bln |
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Number of Shares |
120 mln |
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Percentage Increase |
25% (One share for every four shares held) |
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New Capital |
SAR 1.5 bln |
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Number of Shares |
150 mln |
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Reason |
To support and strengthen Bupa Arabia’s capital base to enable it to achieve business growth and expand activities over the coming years |
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Method of Increase |
Through capitalizing SAR 300 mln from retained earnings |
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Record Date |
Shareholders by the close of trading on the EGM date, who are registered with the Securities Depository Center (Edaa) by the close of the second trading day following the record date |
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