AI Summary
Logo of Saudi Lime Industries Co.
The Capital Market Authority (CMA) approved today, May 27, Saudi Lime Industries Co.’s request to increase capital from SAR 220 million to SAR 231 million by issuing one bonus share for every 20 shares held.
Eligible shareholders will be those registered with the Securities Depository Center (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors, the market regulator said in a statement.
The planned capital top-up will be funded by transferring SAR 11 million from the retained earnings account, which will raise the number of shares from 22 million to 23.10 million.
For more news on listed companies
The CMA stipulated that the deciding extraordinary general meeting (EGM) must be held within six months from its approval date. The company must also fulfill the necessary legal procedures and requirements.
According to data available with Argaam, last March, Saudi Lime’s board recommended a 5% capital hike via bonus shares, as outlined in the following table:
|
Capital Increase Details |
|
|
Current Capital |
SAR 220 mln |
|
Number of Shares |
22 mln |
|
Nominal Value |
SAR 10 |
|
Percentage of Increase |
5% (1:20 bonus issue) |
|
New Capital |
SAR 231 mln |
|
New Number of Shares |
23.1 mln |
|
Reasons |
To support the company’s growth, business expansion, and strengthen its financial position |
|
Record Date |
Shareholders of record who are registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the EGM date |
Be the first to comment
Comments Analysis: