AI Summary
WSM capital will increase SAR 28.60 million
WSM Information Technology Co.’s shareholders approved the board of directors’ recommendation to increase the company’s capital by 33.33% from SAR 21.45 million to SAR 28.60 million through the issuance of bonus shares.
The decision was made during the extraordinary general meeting (EGM) held on Dec. 17.
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Details of Capital Increase |
|
|
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 |
To support strategic growth plan, meet future expansion needs, and reaffirm 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 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 from the date on which each shareholder’s entitlement is determined.
In a statement to Tadawul, the company said shareholders also approved allowing board member Adel Al-Mansour to engage in a business that competes with the company’s activities.
Shareholders further approved an amendment to Article 27 of the company’s articles of association, concerning the board’s additional powers.
Tadawul announced that the company’s share fluctuation limit for today, Dec. 18, was set at SAR 26.86, and all pending orders were canceled.
The Securities Depository Center Co. (Edaa) will credit the bonus shares to shareholders’ portfolios before trading begins on Dec. 22, 2025.
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