AI Summary
Logo of Shatirah House Restaurant Co.’s (Burgerizzr)
Shatirah House Restaurant Co.’s (Burgerizzr) board of directors recommended, on Feb. 16, a 60% capital increase from SAR 35 million to SAR 56 million by granting bonus shares to its shareholders by capitalizing SAR 21 million from retained earnings.
Each shareholder will be granted three bonus shares for every five shares owned, the company said in a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 35 mln |
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Number of Shares |
35 mln |
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Percentage of Increase |
60% |
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New Capital |
SAR 56 mln |
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Number of Shares |
56 mln |
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Reasons |
Keeping pace with the company's growth, expanding its business and strengthening its financial position |
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Method |
Three bonus shares for every five shares owned |
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Record Date |
Shareholders of record at the end of the extraordinary general meeting (EGM) and those registered with Edaa on the second day following the EGM, the date for which will be set later |
Fractional shares, if any, will be compiled in one portfolio, and sold at market price, with proceeds to be distributed pro rata among eligible shareholders within 30 days.
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