Banque Saudi Fransi announces that the Board of directors on his meeting 09-01-2014 has recommended to extraordinary general assembly meeting to increase the company's capital through bonus shares as following:
1.Company's capital before increase is SAR 9,040,178,750 , company's capital after increase SAR 12,053,571,667 , with an increase by 33%.
2.The number of shares before increasing 904,017,875 shares, the number of shares after increasing 1,205,357,167 shares.
3.Offering 1 bonus share for every 3 existing shares.
4.The increasing will be doing through capitalization SAR 3,013,392,917 from account Retained earnings.
5.The new capital increase aims to support the Bank capital base in order to achieve higher income growth levels during the next years.
6.The bonus shares is limited to the shareholders who are registered in the shareholder's register in the Securities Depository Center (Tadawul) at the close of trading on the extraordinary general assembly day, which will be determined later by the company.
7.In cause have bonus shares fractions; the company will collect it in one portfolio then selling it during 30 days from finishing allocating the new shares.
The proposed increase in capital would be initiated only once necessary approvals are received from official authorities as well as from shareholders in extraordinary general assembly meeting.
Comments
{{DisplayName}}
{{ElapsedTime}}