Naseej Tech shareholders OK 54.5% capital increase via bonus shares

Logo of Naseej for Technology Co. (Naseej Tech)

Shareholders of Naseej for Technology Co. (Naseej Tech) approved a board proposal to increase the company’s capital by 54.5% from SAR 50 million to SAR 77.25 million during an extraordinary general meeting held on May 18.

 

In a statement to Tadawul, the company said the capital increase will be implemented through a one-for-two bonus share distribution.

 

Capital Increase Details

Current Capital

SAR 50 mln

No. of Shares

5 mln

Percentage Increase

54.5% (one-for-two bonus issue)

New Capital

SAR 77.25 mln

New No. of Shares

7.73 mln

Method

Capitalizing SAR 27.25 mln from retained earnings as follows: 1- One bonus share will be granted for every two shares held, an increase of SAR 25 mln or 2.5 mln shares, representing 50% of pre-increase capital.

2-  A total of 225,000 shares will be allocated as part of the new shares resulting from the planned capital increase to be held as treasury shares for the ESIP under the long-term incentive plan with a total of SAR 2.25 mln or 4.5% of pre-increase capital.

Allocated Reserves

Capitalizing SAR 27.25 mln from retained earnings

Record Date

May 18, 2026, including shareholders owning the shares on record date in the register of shareholders at Edaa by the end of second trading day after record date

Reason

To support the company's growth of its strategy, strengthen the capital base and bolster its financial position to implement its future plans and activities, thereby enabling expansion while maximizing shareholder returns.
 

In a separate statement, the Saudi Exchange (Tadawul) said the fluctuation limits, on May 19, for Naseej Tech will be based on a share price of SAR 24.63 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by May 21.

 

Fractional shares will be aggregated into a single portfolio for all shareholders and sold at market price, with proceeds distributed to eligible shareholders on a pro rata basis within a maximum of 30 days.

 

Shareholders also approved the employee stock program and authorized the board to determine its terms, including the allocation price for shares offered to employees, if applicable.

 

In addition, the meeting approved the board’s recommendation not to distribute cash dividends for 2025.

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