Saudi Networkers EGM to vote March 8 on capital hike via 1-for-4 bonus issue

Logo of Saudi Networkers Services (SNS)

Shareholders of Saudi Networkers Services Co. (SNS) will vote on a board recommendation to increase capital by 25% through a one-for-four bonus share issue at an extraordinary general meeting (EGM) scheduled for March 8, the company said in a statement to Tadawul.

 

The proposed increase will be funded by capitalizing SAR 15 million from retained earnings.

 

Capital Increase Details

Current Capital

SAR 60 mln

Current No. of Shares

6 mln

New Capital

SAR 75 mln

New No. of Shares

7.5 mln

Percentage of Increase

25%

Reason for Increase

Strengthen the company's strategic growth plan and future expansion needs, as well as reaffirming its financial solvency and financial position

Number of Distributed Shares       

One bonus share for every four shares held

Method

Capitalizing SAR 15 mln from retained earnings

Record Date

March 8, 2026, shareholders of record and those registered with Edaa by the end of the second trading day following the record date

 

Any fractional shares will be aggregated into a single portfolio and sold at market price, with the proceeds distributed to eligible shareholders on a pro rata basis within 30 days of determining share entitlements.

 

Shareholders will also vote on amendments to Article 7 of the company’s bylaws related to capital and Article 8 concerning share subscription.

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