AI Summary
Logo of WSM Information Technology Co.
WSM Information Technology Co.’s board of directors recommended, on Oct. 29, a 33.33% capital increase from SAR 21.45 million to SAR 28.60 million via a bonus share distribution, according to a statement to Tadawul.
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Details of Capital Increase |
|
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Current Capital |
SAR 21.45 mln |
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Number of Shares |
2.15 mln |
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New Capital |
SAR 28.60 mln |
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Number of Shares |
2.86 mln |
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Percentage |
33.33% (one bonus share for each three existing shares) |
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Reasons |
Supporting strategic growth plan, meeting future expansion needs, and reaffirming the company's financial adequacy and solid financial position |
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Method |
Capitalizing SAR 7.15 mln from retained earnings |
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Record Date |
Shareholders of record and those registered with Edaa by the end of the second trading day following the record date |
Fractional shares, if any, will be compiled in one portfolio and offered at market price. The proceeds will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase and the bonus issue are subject to the approval of the relevant authorities and company shareholders, the statement said.
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