| Element List |
Explanation |
| Introduction |
Aldrees Petroleum and Transport Services Co.(ALDREES) Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares |
| Date of Board Meeting |
2021-01-19 Corresponding to 1442-06-06 |
| Capital before increase |
600000000 SR |
| Capital after increase |
750000000 SR |
| Percentage of Capital increase |
25 % |
| Number of shares before Capital increase |
60000000 |
| Number of shares after Capital increase |
75000000 |
| Reasons for the increase |
To commensurate with the size of the company's business and future expansions |
| Number of Shares Granted per Exiting Share |
1 bonus share for every 4 shares owned |
| Nature and Value of Reserves Used in the Capitalization |
The increase in capitalization from the retained earnings |
| Eligibility Date |
Eligible Shareholders are Those Holding Shares in the Eligibility Date as per the Shareholders Registry at the Deposit Center at The End of The Second Working Day after Eligibility Date |
| Fractional Shares |
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 |
Comments