Burgerizzr shareholders approve 40% capital increase via bonus issue

03/07/2022 Argaam

Logo of Shatirah House Restaurant Co. (Burgerizzr)

Shatirah House Restaurant Co.’s (Burgerizzr) shareholders approved, on June 30, the board’s recommendation to increase capital by 40% via a bonus issue at two shares for every five shares held, according to a bourse filing.

 

Bonus Issues Details

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

To keep up with company's growth, expand its business and enhance its financial position

Method

Through capitalizing SAR 10 million from retained earnings 

Record Date

June 30, 2022, including shareholders registered with Edaa on the second trading day after the EGM.
 

In a statement, the Saudi Exchange (Tadawul) said that Burgerizzr’s daily trading fluctuation limit after its capital raise will be based on a share price of SAR 126.40 as of today, July 3. Accordingly, the outstanding orders will be canceled.

 

The Securities Depository Center (Edaa) will deposit the bonus shares into investor portfolios on July 5.

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