AI Summary
Al-Modawat shareholders to decide on SAR 47.5 million capital increase via bonus shares on Oct. 26
Al-Modawat Specialized Medical Co.’s shareholders will vote on Oct. 26 on the board’s proposal to increase capital by issuing bonus shares.
The capital hike, amounting to SAR 47.5 million, will be funded by capitalizing the share premium balance through granting two bonus shares for every share held on the record date.
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Capital Increase Details |
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Current Capital |
SAR 23.75 mln |
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Number of Shares |
23.75 mln |
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New Capital |
SAR 71.25 mln |
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New No. of Shares |
71.25 mln |
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Percentage of Increase |
200% (2 bonus shares for every 1 share held) |
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Reason |
To support the company’s strategic growth plan, future expansion needs, and ambitions, while reaffirming its financial solvency and solid position |
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Increase Method |
Capitalizing SAR 47.5 million from the share premium balance |
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Record Date |
Oct. 26, Shareholders of record who are registered with Edaa by the close of the second trading day following the record date |
In a statement to Tadawul, the company said fractional shares, if any, will be collected in one portfolio for all shareholders, to be sold at market price, with proceeds distributed to eligible shareholders pro rata within 30 days from the date of determining the entitled shares.
Shareholders will also vote on transferring the statutory reserve balance of SAR 2.94 million, as of Dec. 31, 2024, and June 30, 2025, to retained earnings.
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