AI Summary
Theeb will distribute 1-for-two bonus shares and allocate 1.47 million shares for the employee incentive program
Theeb Rent a Car Co.’s shareholders approved the board’s recommendation to increase capital through issuing 22.97 million new shares at an extraordinary general meeting (EGM) on Dec. 15, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 430 mln |
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Current No. of Shares |
43 mln |
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New Capital |
SAR 659.72 mln |
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New No. of Shares |
65.97 mln |
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Percentage of Increase |
53.4% |
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Share Distribution |
21.5 million bonus shares (one for every two shares held, accounting for 50% of the total increase), along with 1.47 million shares (3.4% of the increase) for the employee incentive program. |
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Reason |
Boost growth, fulfill strategic objectives, and enhance financial position |
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Method |
Capitalizing SAR 161.73 million from the retained earnings in addition to capitalizing the entire statutory reserve amounting to SAR 67.98 million. |
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Record Date |
Dec. 15, 2025. Shareholders of record, who are registered with Edaa on the second trading day following the record date. |
Any fractional shares will be compiled into a single portfolio for all shareholders and offered at market price, with proceeds distributed pro rata within 30 days.
Shareholders also approved the long-term employee share program, previously endorsed by the board on Aug. 7, 2025. The board is authorized to allocate shares to employees, manage the program, and make amendments at its discretion.
The EGM agenda further included amendments to several articles of the company’s bylaws, covering participation and ownership in companies, the company’s purchase, sale, and pledging of its own shares, as well as the issuance of sukuk and bonds.
The Saudi Exchange (Tadawul) announced that the fluctuation limits for the company’s share will be calculated based on a price of SAR 39.62 as of today, Tuesday, Dec. 16, 2025, and that all outstanding orders will be cancelled.
The Securities Depository Center (Edaa) will also add the bonus shares to shareholders’ portfolios before the start of trading on Thursday, Dec. 18, 2025.
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