| Date of Board Meeting |
2019-01-16 Corresponding to 1440-05-10 |
| Capital before increase |
500000000 SAR |
| Capital after increase |
600000000 SAR |
| Percentage of Capital increase |
20 % |
| Number of shares before Capital increase |
50000000 SHARES |
| Number of shares after Capital increase |
60000000 SHARES |
| Reasons for the increase |
To commensurate with the size of the company's business and future expansions |
| Number of granted shares per exiting share |
1 bonus share for every 5 shares owned |
| Nature and value of reserves used in the capital increase |
The increase will be through the capitalization of SAR 29,051,761 Million from Retained earnings and SAR 70,948,239 from Statutory Reserve |
| Entitlement Date |
The eligibility of the dividends shall be for shareholders owning shares by the end of trading day of the 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; the company will collect it in one portfolio then sell it at market price within 30 days from finishing allocating the 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. |
| Additional Information |
Nothing |
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