| Element List |
Explanation |
| Introduction |
Board of Directors of the Saudi Chemical Company announced in its meeting held on 27-03-2019, the recommendation to the Extraordinary General Assembly to increase the Company's capital by granting free shares to the shareholders |
| Date of Board Meeting |
2019-03-27 Corresponding to 1440-07-20 |
| Capital before increase |
SAR 632.4 millions |
| Capital after increase |
SAR 843.2 millions |
| Percentage of Capital increase |
33.33 % |
| Number of shares before Capital increase |
63.240.000 |
| Number of shares after Capital increase |
84.320.000 |
| Reasons for the increase |
The Company objective from the increase of capital to enhance and strengthen the Company’s capital base and the future activities |
| Number of granted shares per exiting share |
Granting one free share for every three owned shares |
| Nature and value of reserves used in the capital increase |
The increase will be implemented through capitalization of SAR 210.8 million from the retained earnings. |
| Entitlement Date |
Free shares are limited to the shareholders recorded in the Company’s shareholders register at the Securities Depository Center (Edaa), at the end of the second trading day following the date of the Extraordinary General Assembly day, which will be determined subsequently by the Company. |
| Fractional stocks |
In case of share’s fractions, the Company will collect them in one portfolio to be sold within 30 days after finalizing the allocation the new shares |
| Approvals |
Granting the free shares is subject to obtaining the approvals of the official authorities and the Shareholders’ Extraordinary General Assembly in terms of the increase in capital and the number of free shares |
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