AI Summary
Logo of Arabian Plastic Industrial Co. (APICO)
Shareholders of Arabian Plastic Industrial Co. (APICO) greenlit the board of directors’ proposal to increase capital by 50% through a one-for-two bonus share distribution and capitalizing SAR 25 million from retained earnings.
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Capital Increase Details |
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Current Capital |
SAR 50 mln |
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Number of Shares |
5 mln |
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Percentage Increase |
50% (one-for-two bonus shares) |
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New Capital |
SAR 75 mln |
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New Number of Shares |
7.5 mln |
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Method |
Capitalizing SAR 25 mln from retained earnings |
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Reason |
Enhancing the company's strategic growth plan, addressing expansion needs and aspirations, as well as emphasizing the company's financial solvency and strong financial position |
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Record Date |
June 19, 2025 (Shareholders of record and registered with Edaa at the end of the second trading day after the record date) |
In a statement to Tadawul today, June 22, APICO said fractional shares, if any, will be compiled into one portfolio, to be offered for sale at market price. The proceeds will be distributed among the eligible shareholders pro rata within 30 days.
Shareholders also approved authorizing the board to transfer the statutory reserve that stands at nearly SAR 7.34 million as of Dec. 31, 2024, to the retained earnings balance.
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