Burgerizzr’s board proposes 40% capital increase to SAR 35 mln via bonus issue

30/03/2022 Argaam

Logo of Shatirah House Restaurant Co.’s (Burgerizzr) 

Shatirah House Restaurant Co.’s (Burgerizzr) board of directors recommended a capital increase to SAR 35 million from SAR 25 million through a 40% bonus issue, according to a bourse filing. 

 

The capital increase will be financed through the capitalization of SAR 15 billion from the retained earnings via distributing three bonus shares for every five shares held.

 

Capital Increase Details – Bonus Issue

Current Capital

SAR 25 mln

Number of Shares

2.5 mln

Percentage of Increase

40% (two bonus shares for every five shares held)

New Capital

SAR 35 mln

Number of Shares

3.5 mln

Reason

Boosting the company's resources, accelerating growth plans over the coming years and strengthening its market position

Method

The capitalization of SAR 10 billion from the retained earnings

Record Date

(Shareholders of record with the Securities Depository Center Company (Edaa) at the end of the second trading day)

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