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Purity recommends 33% capital hike via bonus shares
AI Summary
Content Summary: 
Logo of Purity for Information Technology Co.
Purity for Information Technology Co.’s board on Nov. 3 recommended a 33.3% capital increase via a bonus share distribution, according to a statement to Tadawul.
|
Details of Capital Increase |
|
|
Current Capital |
SAR 15 mln |
|
No. of Shares |
15 mln |
|
Percentage |
33.33% (one bonus share for each three existing shares) |
|
New Capital |
SAR 20 mln |
|
New No.of Shares |
20 mln |
|
Method |
Bonus share distribution |
|
Nature and Value of Reserves: |
Capitalizing SAR 5 million from retained earnings. |
|
Record Date |
Shareholders of record and those registered with Edaa by the end of the second trading day following the record date. |
|
Reasons |
Supporting strategic growth plan, meeting future expansion needs, and reaffirming the company's solid financial position. |
Fractional shares, if any, will be compiled in one portfolio and offered at market price. The proceeds will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase and the bonus issue are subject to the approval of the relevant authorities and company shareholders, Purity said.
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