Edaa implements corporate action on Foods Gate

11:15 AM (Mecca time) Argaam
Logo ofFoods Gate Trading Co.

Logo of Foods Gate Trading Co.

The Securities Depository Center Co. (Edaa) announced implementing securities quantity increase for Foods Gate Trading Co. into the accounts of eligible securities’ holders today, June 29, according to a statement.

 

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Shareholders recently approved the board’s recommendation to increase the company’s capital by 50% through a bonus share issue. This will be done by capitalizing SAR 10.5 million from retained earnings, granting one bonus share for every two shares owned, Argaam reported.

 

Accordingly, Tadawul announced that fluctuation limits for Foods Gate will be based on a share price of SAR 40 on June 25, and the outstanding orders canceled.

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