AI Summary
Al Hassan Ghazi Ibrahim Shaker Co.’s (Shaker) shareholders are set to vote on a board proposal for a 22% capital hike from SAR 555 million to SAR 677.1 million during the extraordinary general meeting (EGM) slated for Jan. 8, 2026, according to a statement to Tadawul.
The planned capital top-up will be through the distribution of 11.1 million bonus shares (via a 1:5 bonus issue), representing 20% of the company’s pre-increase capital, by capitalizing a portion of retained earnings.
Under this transaction, as many as 1.11 million (2% of the pre-increase capital) of Shaker’s shares will be allocated to the employee long-term stock incentive program.
|
Capital Increase Details |
|
|
Current Capital |
SAR 555 mln |
|
Current Number of Shares |
55.5 mln |
|
Proposed Increase |
22% |
|
Method |
Capitalizing SAR 122.1 mln from retained earnings balance |
|
Bonus Shares |
11.1 mln (1-for-5 bonus share issue, or 20% of capital) |
|
Treasury Shares |
1.11 mln (2% of capital) |
|
New Capital |
SAR 677.1 mln |
|
New Number of Shares |
67.71 mln |
|
Reason |
To support the company’s future plans |
|
Record Date |
Shareholders of record and registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date |
Fractional shares, if any, will be compiled into a single portfolio for all shareholders, and will be sold at market price. Their value will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
Be the first to comment
Comments Analysis: