Edarat shareholders approve increasing authorized capital to SAR 50 mln

Logo of Edarat Communications and Information Technology Co. (Edarat) 

Edarat Communications and Information Technology Co.'s (Edarat) shareholders approved an increase in authorized capital to SAR 50 million, during the extraordinary general meeting (EGM) held on Oct. 15.

In a statement to Tadawul, Edarat said there would be no change in the number of company shares before and after the increase in the authorized capital.

Meanwhile, shareholders also approved other items on the meeting’s agenda.

In September, Edarat’s board recommended that the authorized capital be set at SAR 50 million, as the issued capital amounted to SAR 12.6 million (fully paid).