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Logo of Future Vision for Health Training Co.
Future Vision for Health Training Co. updated its board of directors’ recommendation regarding increasing the capital.
The company revised the mechanism so that the entire increase will be financed through the capitalization of SAR 10 million from the share premium account, instead of partially using retained earnings and IPO proceeds as previously announced.
In a statement to Tadawul, Future Vision said this update reflects its commitment to optimizing its capital structure and strengthening its financial position to support expansion plans and achieve its strategic objectives.
According to data available with Argaam, Future Vision’s board of directors recommended in August a capital increase through bonus shares.
The increase will be carried out by capitalizing SAR 10 million from IPO proceeds and retained earnings, whereby each shareholder will be granted one share for every share held, as shown in the table below:
|
Capital Increase Details |
|
|
Current Capital |
SAR 10 mln |
|
No. of Shares |
10 mln |
|
New Capital |
SAR 20 mln |
|
No. of Shares |
20 mln |
|
Percentage of Increase |
100% (1 bonus share for every outstanding share) |
|
Reason |
To boost financial position, enhance competitiveness, support expansion plans and open new branches across the Kingdom |
|
Method |
By fully capitalizing SAR 10 million from the share premium account |
|
Record Date |
Eligible shareholders on record date and those registered with Edaa at the end of the second trading day following the record date |
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