Sure Global shareholders to vote on 50% capital hike on Nov. 13

22/10/2023 Argaam

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Logo of Sure Global Tech Co.

Sure Global Tech Co.’s shareholders will vote on a 50% capital increase during the extraordinary general meeting (EGM) slated for Nov. 13, 2023, according to a statement to Tadawul.

 

Shareholders will discuss a capital hike from SAR 51.30 million to SAR 76.95 million through a bonus issue.

 

Capital Increase Details

Current Capital

SAR 51.30 mln

No. of Shares

5.13 mln

Percentage of Increase

50% (One bonus share for every two existing shares)

Method

Bonus Issue

New Capital

SAR 76.95 mln

New Capital

7.69 mln

Reasons

To support strategic growth and financial position

Method

Capitalizing SAR 25.65 mln from retained earnings 

Record Date

Nov. 13, 2023 (Shareholders of record and shareholders registered with Edaa on the second trading day following the EGM)
 

Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at the market price pro rata in 30 days maximum.

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