Balsm Alofoq EGM to vote on 100% capital hike via bonus issue on Dec. 21

Logo of Balsm Alofoq Medical Co.

Balsm Alofoq Medical Co.’s shareholders will vote on increasing capital by 100% from SAR 12.5 million to SAR 25 million through a bonus issueduring an extraordinary general meeting (EGM) to be held on Dec. 21.

 

Capital Increase Details

Current Capital

SAR 12.50 mln

Number of Shares

1.25 mln

New Capital

SAR 25 mln

New Number of Shares

2.50 mln

Percentage of Increase

100% (one-for-one bonus issue)

Reason

To enhance the company’s strategic growth plan, meet future expansion needs and aspirations, and reinforce the company's financial viability and strong financial position

Method

By capitalizing SAR 10.15 mln from the share premium balance and SAR 2.35 mln from retained earnings

Record Date

Dec. 21, 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, then their value will be distributed among eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each shareholder, according to the company's Tadawul statement today, Nov. 25.

 

Other EGM agenda items inclue voting on amending Article (7) of the company's Articles of Association related to capital and Article (8) regarding subscription to shares.

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