AI Summary
WSM seeks to raise its capital to SAR 28.60 million, through bonus issue
WSM for Information Technology Co.’s shareholders will discuss the board’s recommendation to increase capital, during the extraordinary general meeting (EGM) scheduled for Dec. 17, according to a statement to Tadawul.
The company seeks to raise its capital by 33.33% from SAR 21.45 million to SAR 28.60 million, through issuing bonus shares.
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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) |
|
Reasons |
Support strategic growth plan, future expansion needs, as well as 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 |
Dec. 17, 2025, shareholders of record and those registered with Edaa by the end of the second trading day following the record date |
Shareholders will also discuss amending Article 27, related to the board’s additional authorities. They will vote on the participation of board member Adel Al-Mansour in a business competing with the company's activities.
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