Aljouf Mineral Water Bottling Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares
| Element List | Explanation |
|---|---|
| Introduction | Al-Jouf Mineral Water Bottling Co. announces the decision of the Board of Directors on 20-11-1443 AH corresponding to 19-06-2022 AD, approving the Board’s approval to increase the company’s capital by capitalizing part of the retained earnings by granting (1) one share for every (2) two shares existing.
The percentage of the capital increase is 50% and the capital before the increase is 31,250,000 riyals and after the increase is 46,875,000 riyals and the number of shares before the increase is 3,125,000 shares and after the increase is 4,687,500 shares. |
| Date of Board Meeting | 2022-06-19 Corresponding to 1443-11-20 |
| Capital before increase | 31250000 |
| Capital after increase | 46875000 |
| Percentage of Capital increase | 50 % |
| Number of shares before Capital increase | 3125000 |
| Number of shares after Capital increase | 4687500 |
| Reasons for the increase | Strengthening the company's resources, which contributes to achieving good growth rates in the coming years, God willing |
| Number of Shares Granted per Exiting Share | (1) one share for every (2) two shares. |
| Nature and Value of Reserves Used in the Capitalization | 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 fractional shares, the fractions will be collected in one portfolio and then sold in the market to all shareholders and their value will be distributed to the shareholders who are eligible for the grant, each according to his share, within a period of 30 days from the date of completion of the allocation of new shares. |
| Approvals | Conditional on the approval of the official authorities and the extraordinary general assembly on the increase in the capital and the number of shares granted |
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