Theeb shareholders to vote on 53.4% capital top-up on Dec. 15

Logo of Theeb Rent a Car Co.

Shareholders of Theeb Rent a Car Co. will discuss a 53.4% capital increase through the issuance of 22.97 million bonus shares during the extraordinary general meeting (EGM) to be held on Dec. 15.

 

Capital Increase Details

Current Capital

SAR 430 mln

Number of Shares

43 mln

New Capital

SAR 659.72 mln

New Number of Shares

65.97 mln

Percentage of Increase

53.4%

Number of Distributed Shares   

- Distributing 21.5 mln in bonus shares to shareholders via a 1:2 issuance, representing a 50% capital hike

 

- Allocating an additional 1.47 mln shares (a 3.4% capital top-up) for the long-term employee incentive stock program

Reason for Increase

- Supporting the company's growth, achieving strategic goals, and enhancing its financial position

Method

Through capitalizing SAR 161.73 mln from retained earnings and capitalizing SAR 67.98 mln in statutory reserve

Record date

Dec. 15, 2025 (Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the record date)
 

Fractional shares, if any, will be collected into one portfolio for all shareholders and sold at the market price, before being distributed pro rata to eligible shareholders, within no more than 30 days from the date of determining the shares due to each shareholder, according to the company's statement.

 

The EGM will also vote on resolutions related to the company’s long-term employee incentive stock program, which was earlier approved by the board of directors on Aug. 7, 2024, including granting the board the authority to take any decisions as deemed appropriate.

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