Mubasher TV
Contact Us Advertising   العربية

Al Jouf Cement to discuss capital hike 19 June

Al Jouf Cement to discuss capital hike 19 June
(Photo Credit: Company website)
JOUF CEMENT
3091
-0.18% 11.38 -0.02

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Jouf Cement will meet 19 June to discuss a capital hike through distributing bonus shares at SAR 10 per share.

The capital would be increased 10% from SAR 1.3 billion to SAR 1.43 billion, according to a bourse filing on Wednesday.

Accordingly, the number of share will go up from 130million shares to 143 million shares and will be financed through transferring SAR 130 million from the retained earnings.

The capital hike aims to support the company’s financial position which will contribute to implementing future businesses.

Shareholders of record on the meeting’s day and who are registered in the Securities Depository Center (Edaa) at the following day of trades will be entitled to the bonus shares.

The EGM will also consider the board’s and auditors’ reports for 2016, in addition to amending the company’s bylaws to be in line with the New Companies Law.