A 33.3 % Capital raise of Budget Company (from SR 305,000,000 to SR 406,666,670 ) was approved in BOD meeting that was held on 19/01/2012. The proposed capital raise will be used to support the expansion plans.
The Capital raise is to take place by issuing one bonus share to each 3 shares owned by registered shareholders, as SAR101,666,670 of retained earnings will be capitalized.
By this issuance the number of outstanding shares will increase from 30,500,000 shares to 40,666,667 shares.
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