AI Summary
Logo of Paper Home Co.
Paper Home Co.’s shareholders approved increasing capital by 200% during the extraordinary general meeting (EGM) held on July 22.
The capital increase will be implemented by capitalizing SAR 40 million from the retained earnings account, with two bonus shares to be granted for every share held, as detailed in the following table:
|
Capital Increase Details |
|
|
Current Capital |
SAR 20 mln |
|
Current Number of Shares |
2 mln |
|
Percentage Increase |
200% (2-for-1 bonus issue) |
|
Method |
By capitalizing SAR 40 million from the retained earnings account. |
|
New Capital |
SAR 60 mln |
|
New Number of Shares |
6 mln |
|
Reasons |
To align with the company's business size and assets, in addition to supporting future growth and expansion. |
|
Record Date |
July 22, 2025 (Shareholders registered with Edaa on the second trading day following the record date.) |
Fractional shares, if any, will be pooled into a single portfolio and sold at market price. Proceeds will be distributed to eligible shareholders based on their ownership within 30 days from the date the new share entitlements are determined.
Shareholders also approved the transfer of SAR 5.12 million, the statutory reserve balance as of Dec. 31, 2024, to retained earnings. In addition, they agreed to delete Article 47 of the company’s bylaws, pertaining to the formation of reserves.
The Saudi Exchange (Tadawul) said in a separate statement that the fluctuation limits today, July 23, for Paper Home will be based on a share price of SAR 46.74, and all standing orders will be cancelled.
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