Al-Jouf Mineral Water shareholders to vote on 50% capital hike via bonus issue on Jan. 24

29/12/2022 Argaam
Logo ofAl-Jouf MineralWaterBottlingCo.

Logo of Al-Jouf Mineral Water Bottling Co.

Al-Jouf Mineral Water Bottling Co.’s shareholders are set to vote on increasing capital by 50% through a one-for-two bonus share distribution, during the extraordinary general assembly meeting (EGM) scheduled for Jan. 24, 2023.

 

Details of Bonus Issue

Current Capital

SAR 31.25 mln

Number of Shares

3.13 mln

Percentage of Increase

50% (1 bonus share for every 2 shares held)

New Capital

SAR 46.88 mln

Number of Shares

4.69 mln

Reason

To support and enhance the company’s future activities.

Method

Capitalizing SAR 15.63 mln from retained earnings account.

Record Date

Jan. 24, 2023, including shareholders of record in the issuer’s register with the Securities Depository Center Co. (Edaa) by the close of the second trading day following this date.
 

In June, Al-Jouf Mineral Water’s board of directors recommended increasing the company’s capital by 50% through a one-for-two bonus share distribution, Argaam earlier reported.

 

The Capital Market Authority (CMA) gave the green light for company’s request to increase its capital in November.

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