| Element List |
Explanation |
| Introduction |
Arabian Shield Cooperative Insurance Announces the Board of Directors resolution today 12/01/2021 to Increase the Capital by Granting (1) Bonus Share for every (3) shares by partial capitalization of retained earnings and statuary reserve. |
| Date of Board Meeting |
2021-01-12 Corresponding to 1442-05-28 |
| Capital before increase |
300 Million SAR |
| Capital after increase |
400 Million SAR |
| Percentage of Capital increase |
33.33 % |
| Number of shares before Capital increase |
30000000 |
| Number of shares after Capital increase |
40000000 |
| Reasons for the increase |
The company aims to enhance the solvency of capital |
| Number of Shares Granted per Exiting Share |
one Bonus share for every three shares |
| Nature and Value of Reserves Used in the Capitalization |
Capital increase through capitalization of 80 Million SAR from retained earnings, and 20 Million SAR from statutory reserves |
| Eligibility Date |
The right of profits to the shareholders of the company owners of the shares on the day of maturity registered in the company's shareholders register with the Securities Depository Center at the end of the second trading day after the Eligibility |
| Fractional Shares |
In the case of stock remaining fractures, the fractions will be grouped into one portfolio for all shareholders and sold at the market price and then distributed to shareholders eligible for the grant each according to their share within a period of not more than 30 days from the date of determining the shares due to each shareholder |
| Approvals |
This grant is conditional on the approval of the official authorities and the approval of Extraordinary General Assembly Meeting to increase in capital and the number of shares granted |
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