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Al Rajhi Bank Announces the Board’s resolution to increase the capital by granting shares

Al Rajhi 1120 0.99% 71.50 0.70

Element List Explanation
Introduction Al Rajhi Bank Board of Directors, through circulation on 3/1/2019, recommended to the Extraordinary General Assembly to increase the bank capital by granting bonus shares
Date of Board Meeting 2019-01-03 Corresponding to 1440-04-27
Capital before increase 16,250,000,000 SAR
Capital after increase 25,000,000,000 SAR
Percentage of Capital increase 53.8 %
Number of shares before Capital increase 1,625,000,000 shares
Number of shares after Capital increase 2,500,000,000 shares
Reasons for the increase Support the Bank's resources, which will contribute to good growth ratios in the future years.
Number of granted shares per exiting share 7 bonus shares for every 13 shares owned
Nature and value of reserves used in the capital increase The increase will be through the capitalization of SAR 8,750 Million from Retained earnings.
Entitlement Date The eligibility of the dividends shall be for shareholders owning shares by the end of trading day of ARB’s General Assembly meeting date (which will be announced later) and are registered at Depository Center at the end of the second trading day following the General Assembly Meeting date
Fractional stocks In case of bonus shares fractions occurrence; the bank will collect all fractions in one portfolio to be sold by market price, the value will be distributed to eligible shareholders each by their share during 30 days from the allocation of new shares to 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.