Raoom shareholders to vote on 25% capital hike via bonus issue on Aug. 7

17/07/2022 Argaam

Logo of Raoom Trading Co.

Raoom Trading Co.’s shareholders will vote on a 25% capital increase to SAR 62.5 million from SAR 50 million, through issuing one bonus share for every four shares held, during an extraordinary general assembly meeting (EGM), to be held on August 7, according to a bourse filing.

 

Details of Capital Increase

Current Capital

SAR 50 mln

Number of Shares

5 mln

Increase%

25% (one share for every four shares held)

New Capital

SAR 62.50 mln

New Number of Shares

6.25 mln

Method

Through capitalizing SAR 12.5 million from retained earnings

Record Date

August 7, 2022 (Including those registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM date).

Reason

To strengthen the company's resources, which will contribute to achieving strong growth rates in the coming years.

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