One of Mouwasat Medical Services Co. hospitals
Mouwasat Medical Services Co.'s shareholders approved the board’s recommendation to increase capital by 100% to SAR 2 billion through a one-for-one bonus share distribution.
The approval took place during the extraordinary general meeting (EGM) held on Aug. 7, according to a statement to the Saudi Exchange (Tadawul).
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Capital Increase Details |
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Current Capital |
SAR 1 bln |
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Current Number of Shares |
100 mln |
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Percentage of Increase |
100% (1-for-1 bonus share distribution) |
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New Capital |
SAR 2 bln |
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New Number of Shares |
200 mln |
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Method |
Through capitalizing SAR 1 bln of retained earnings and listing new shares of a previously listed share class by distributing one share for each owned share. |
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Reason |
To enhance the company's strategic asset growth plan, expand its medical network, and emphasize its financial solvency and strength. |
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Record Date |
Aug. 7, 2023 (Shareholders registered with Edaa by the end of the second trading day following the record date). |
Fractional shares, if any, will be compiled into one portfolio and sold at the market price. The sale proceeds will be distributed among eligible shareholders pro rata within 30 days.
In a separate statement, Tadawul announced that the fluctuation limits for Mouwasat will be based on a share price of SAR 120.80. Moreover, the outstanding orders will be canceled.
The Securities Depository Center (Edaa) will deposit the bonus shares into investors’ portfolios by Aug. 10.
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