AI Summary
Logo of Yaqeen Capital Co.
Yaqeen Capital Co.’s shareholders approved the board’s recommendation of a 70% capital top-up through capitalizing part of the retained earnings account and distributing 0.7 bonus share for every existing share, according to a Tadawul statement.
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Capital Increase Details |
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Current Capital |
SAR 150 mln |
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Current Number of Shares |
15 mln |
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Percentage of Increase |
70% (0.7 share for every share held) |
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Capitalization |
Capitalizing SAR 105 mln from retained earnings |
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New Capital |
SAR 255 mln |
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New Number of Shares |
25.5 mln |
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Reason |
To expand the company's business, develop services, and increase growth opportunities. |
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Record Date |
May 14. Shareholders of record and those registered with Edaa on the second trading day following the record date. |
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at the market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
The decision is conditional on approvals from competent authorities and the extraordinary general meeting (EGM), the statement added.
In a statement, Saudi Tadawul announced that the fluctuation limit for the company’s share has been calculated based on a price of SAR 12.58 for today, May 15, and that all existing orders have been cancelled.
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