AI Summary
Logo of Saudi Networkers Services (SNS)
Shareholders of Saudi Networkers Services Co. (SNS) will vote on a board recommendation to increase capital by 25% through a one-for-four bonus share issue at an extraordinary general meeting (EGM) scheduled for March 8, the company said in a statement to Tadawul.
The proposed increase will be funded by capitalizing SAR 15 million from retained earnings.
|
Capital Increase Details |
|
|
Current Capital |
SAR 60 mln |
|
Current No. of Shares |
6 mln |
|
New Capital |
SAR 75 mln |
|
New No. of Shares |
7.5 mln |
|
Percentage of Increase |
25% |
|
Reason for Increase |
Strengthen the company's strategic growth plan and future expansion needs, as well as reaffirming its financial solvency and financial position |
|
Number of Distributed Shares |
One bonus share for every four shares held |
|
Method |
Capitalizing SAR 15 mln from retained earnings |
|
Record Date |
March 8, 2026, shareholders of record and those registered with Edaa by the end of the second trading day following the record date |
Any fractional shares will be aggregated into a single portfolio and sold at market price, with the proceeds distributed to eligible shareholders on a pro rata basis within 30 days of determining share entitlements.
Shareholders will also vote on amendments to Article 7 of the company’s bylaws related to capital and Article 8 concerning share subscription.
Be the first to comment
Comments Analysis: