AI Summary
Logo of Al-Jouf Mineral Water Bottling Co.
Al-Jouf Mineral Water Bottling Co.'s board of directors recommended today, Jan. 8, a 33% capital increase, from SAR 46.88 million to SAR 62.50 million, by granting one bonus share for every three shares held.
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Capital Increase Details |
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Current Capital |
SAR 46.88 mln |
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Current No. of Shares |
93.75 mln |
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Increase Percentage |
33% (1:3 bonus issue) |
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New Capital |
SAR 62.50 mln |
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New No. of Shares |
125 mln |
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Reasons |
Supporting the company’s growth and business expansion and strengthening its financial position |
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Method |
Capitalization of SAR 15.63 mln from retained earnings |
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Record Date |
Shareholders recorded in the company’s register with the Securities Depository Center (Edaa) by the close of the second trading day after the general assembly, and who held shares at the end of trading on the assembly date |
In a statement to Tadawul, the company said any fractional shares will be collected in a single portfolio to be sold at market price. The proceeds will then be distributed among eligible shareholders pro rata within 30 days maximum from the date of determining each shareholder’s eligible shares.
The company noted that the capital increase is subject to obtaining approvals from the relevant regulatory authorities, as well as the approval of the extraordinary general meeting (EGM).
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