Amwaj board proposes 33.33% capital increase via bonus issue

Logo of Amwaj International Co.

Amwaj International Co.’s board of directors recommended, in its meeting held on April 10, a 33.33% capital increase by capitalizing SAR 20 million from the retained earnings, through issuing one bonus share for each existing shares, according to a statement to Tadawul.

 

Details

Current Capital

SAR 60 mln

Number of Shares

6 mln

Nominal Value

SAR 10

Percentage

33.33% (one bonus share for each three existing shares)

Method

Capitalizing SAR 20 mln from retained earnings

New Capital

SAR 80 mln

Number of Shares

8 mln

Reasons

Implementing expansions aligning with future aspirations, maximizing total shareholder return, and supporting the company’s future activities.

Record Date

Shareholders of record and those registered with Edaa on the second trading day follwoing the EGM date.
 

Fractional shares, if any, will be compiled into a single portfolio, sold at the market price, and the proceeds will be distributed to the eligible shareholders, pro rata, within a period not exceeding 30 days.

 

The bonus issue is subject to obtaining the necessary approvals of the relevant authorities and the extraordinary general meeting (EGM).

 

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