Budget-Saudi: 33.3% Proposed Capital raise

A   33.3  % Capital raise of Budget Company (from SR 305,000,000  to SR 406,666,670   ) was approved in BOD meeting that was held on 19/01/2012. The proposed capital raise will be used to support the expansion plans.

The Capital raise is to take place by issuing one bonus share to each 3 shares owned by registered shareholders, as SAR101,666,670  of retained earnings will be capitalized.

By this issuance the number of outstanding shares will increase from 30,500,000 shares to 40,666,667 shares.