AI Summary
Tadweeer’s proposed capital hike is set to boost its capital base, hence supporting its future plans, strategies, and expansions
National Environmental Recycling Co.’s (Tadweeer) board of directors recommended increasing capital by 100% via a 1:1 bonus issue, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 116.16 mln |
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Number of Shares |
116.16 mln |
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Percentage Increase |
100% (1:1 bonus issue) |
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New Capital |
SAR 232.32 mln |
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New Number of Shares |
232.32 mln |
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Method |
Capitalizing SAR 67.84 mln from the share premium balance, SAR 47.74 mln from the retained earnings balance, and SAR 577,850 from the statutory reserve balance |
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Reason |
To strengthen Tadweeer capital base, which will support future plans, strategies, and expansions |
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Record Date |
To shareholders registered with Edaa at the end of the second working day after the record date |
Fractional shares, if any, will be collected in one portfolio for all shareholders and sold at the market price, before being distributed among the eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each one.
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The planned capital increase is subject to the approval of the competent authorities as well as the company's extraordinary general assembly.
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