AI Summary
Logo of Edarat Communication and Information Technology Co.
Shareholders of Edarat Communication and Information Technology Co. approved a 100% capital increase by capitalizing a portion of retained earnings via a one-for-one bonus share issuance.
The decision came during the extraordinary general meeting (EGM) held on May 28.
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Capital Increase Details |
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Current Capital |
SAR 25.20 mln |
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Number of Shares |
2.52 mln |
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Percentage Increase |
100% (one-for-one bonus share distribution) |
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Method |
By capitalizing SAR 25.20 mln from retained earnings |
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New Capital |
SAR 50.40 mln |
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New Number of Shares |
5.04 mln |
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Reason |
To support and strengthen the capital base and future activities of the company, which will contribute to achieving good growth rates in the coming years in line with the company’s policy |
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Record Date |
May 28, 2025. Shareholders of record and registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date |
Fractional shares will be consolidated into a single portfolio and sold at market price. Proceeds from the sale will be distributed to eligible shareholders based on their entitlements within 30 days of finalizing the shares due, the statement added.
In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits on May 29 for Edarat will be based on a share price of SAR 280 and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by June 2.
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