Saudi Hollandi Bank (SHB) said in a filing to Tadawul website that the board recommended on Dec. 17 increasing capital by 20% from SAR 4.8 billion to SAR 5.8 billion to support its capital base and the business growth.
This recommendation is subject to the approval of the next extraordinary general meeting which will be held during the first quarter of 2015, after obtaining the approval of concerned authorities.
This increase shall be implemented by distributing one-for-five bonus shares, thus raising share capital from 476.2 million shares to 571.6 million shares.
The SAR 952.6 million capital increase shall be financed from retained earnings.
Shareholders of record until the close of trading on the date of the next extraordinary general meeting will be eligible for this distribution.

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