15 MAR 2023
| Element List | Explanation |
|---|---|
| Date of Board Meeting | 2023-03-14 Corresponding to 1444-08-22 |
| Capital before increase | 4,921,875,000 SAR |
| Capital after increase | 7,382,812,500 SAR |
| Percentage of Capital increase | 50 % |
| Number of shares before Capital increase | 492187500 |
| Number of shares after Capital increase | 738281250 |
| Reasons for the increase | Increase in capital aligns with the Company’s strategy to strengthen its capital base in line with future prospects for growth and expansion, and long-term value creation through investments in available opportunities. |
| Number of Shares Granted per Exiting Share | One bonus share for every 2 shares owned. |
| Nature and Value of Reserves Used in the Capitalization | The increase will be through capitalization of 351,749,161 Saudi Riyals from Statutory reserve and 2,109,188,339 Saudi Riyals from the retained earnings. |
| Eligibility Date | Eligible Shareholders are Those Holding Shares in the Eligibility Date as per the Shareholders Registry at the Deposit Center at The End of The Second Working Day after Eligibility Date |
| Fractional Shares | In case there were bonus shares fractions, the Company will collect all fractions in one portfolio for all shareholders to be sold at market price, then the amount will be distributed to eligible shareholders proportionately as per ownership percentage within a period not exceeding 30 days from the date of determining the due shares for each shareholder. |
| Approvals | The proposed grant is subject to obtaining necessary approvals from official authorities and Extraordinary General Assembly meeting on the capital increase and number of granted shares. |