Nofoth EGM to vote on capital hike, 25% dividend for 2024 on June 1

Logo of Nofoth Food Products Co.

Nofoth Food Products Co.'s shareholders will vote on the board recommendation to increase capital by 100% via a 1:1 bonus issue, during an extraordinary general meeting (EGM) to be held on June 1, as follows:

 

Capital Increase Details

Current Capital

SAR 48 mln

Number of Shares

48 mln

Percentage of Increase

100%

New Capital

SAR 96 mln

New Number of Shares

96 mln

Method

1 bouns share for each owned share

Nature and Value of Reserve

Capitalizing SAR 48 mln from retained earnings

Record Date

To shareholders registered with Edaa at the end of the second trading day following the EGM date

Reason

To enhance the company's financial solvency, support its expansion plans, maximize returns for shareholders by developing works and seizing available opportunities in the food sector.
 

Fractional shares, if any, will be compiled into one portfolio for all shareholders and will be offered at the market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.

 

For more news on listed companies

 

Shareholders will also vote on the board of directors’ recommendation on the distribution of cash dividend at 25% of capital, or SAR 0.25 per share, for 2024.

 

Dividend Details (2024)

Current Capital

SAR 48 mln

Number of Shares*

48 mln

Nominal Value

SAR 1

Total Dividend

SAR 11.91 mln

Percentage of Capital

25% (SAR 0.25 per share)

Record Date

To shareholders registered with Edaa by the end of trading on the EGM date.

Payment Date

June 15, 2025
*Number of eligible shares is 47.63 mln shares

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