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Logo of Digital Research Co. (DRC)
Digital Research Co. (DRC) said its board of directors recommended a 75% capital increase, through a 3-for-4 bonus share distribution.
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Capital Increase Details |
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Current Capital |
SAR 16.88 mln |
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Number of Shares |
1.687 mln |
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Percentage of Increase |
75% (three bonus shares for every four owned) |
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New Capital |
SAR 29.53 mln |
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New Number of Shares |
2.95 mln |
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Value of Reserve |
Capitalization of SAR 12.50 mln in issue premium and part of the SAR 158.28 mln statutory reserve |
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Record date |
Shareholders of record at the end of trading on the day of the deciding EGM, and those registered with Edaa at the end of the second trading day following the general assembly |
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Reason |
To support the company’s capital and strengthen its financial position |
Fractional shares, if any, will be compiled into one portfolio for all shareholders and will be offered at the market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
The planned capital increase is subject to the approval of the competent authorities as well as the company's EGM.
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