Trade union approves 10% capital raise

A 10% capital raise of Trade union Cooperative insurance Company (from SAR 250m to SAR 275m) was approved in the Extraordinary general assembly meeting that was held on 5/6/2013 to support the company's future expansions with maintaining current solvency margin and required reserve.

The Capital increase is to take place by issuing one bonus share to each ten shares owned by registered shareholders as SAR 25m of retained earnings will be capitalized.

By this issuance the number of outstanding shares will be increased from 250,000,000 shares to 27,500,000 shares.