AI Summary
Logo of Nofoth Food Products Co.
Shareholders of Nofoth Food Products Co. approved on June 1 the board recommendation to increase capital by 100% via a 1-for-1 bonus issue.
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Capital Increase Highlights |
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Current Capital |
SAR 48 mln |
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Number of Shares |
48 mln |
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Percentage of Increase |
100% |
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New Capital |
SAR 96 mln |
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New Number of Shares |
96 mln |
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Method |
1 bouns share for each share owned |
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Nature and Value of Reserve |
Capitalizing SAR 48 mln from retained earnings |
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Record Date |
June 1, 2025 (Shareholders registered with Edaa by the close of trading on the second trading day following the EGM date) |
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Reason |
To enhance the company's financial solvency, support its expansion plans, maximize returns for shareholders by developing the business 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 market price. Proceeds will be distributed among shareholders pro rata within 30 days maximum, the company said in a statement to Tadawul.
Shareholders also gave the go-ahead for paying a 25% cash dividend, or SAR 0.25 per share, for 2024.
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Dividend Details (2024) |
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Current Capital |
SAR 48 mln |
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Number of Shares* |
48 mln |
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Nominal Value |
SAR 1 |
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Total Dividend |
SAR 11.91 mln |
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Percentage of Capital |
25% (SAR 0.25 per share) |
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Record Date |
June 1, 2025 (And shareholders registered with Edaa) |
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Payment Date |
June 15, 2025 |
*Number of eligible shares is 47.63
The Saudi Exchange (Tadawul) announced that the fluctuation limit for the company’s share has been calculated based on a price of SAR 12.06 today, June 2, and that all existing orders have been cancelled.
Edaa will deposit the bonus shares in shareholder portfolios before the start of trading on June 4.
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