Addendum Announcement from Aljazira Takaful Taawuni Co. in regards to Aljazira Takaful Taawuni Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares
| Element List | Explanation |
|---|---|
| Introduction | A reference to the company’s announcement dated 03-03-2023 AD corresponding to 09-08-1444 AH regarding the Board of Directors’ recommendation to increase the company’s capital by granting bonus shares from 550,000,000 Saudi riyals to 660,000,00 Saudi riyals, subject to obtaining the approval of the competent
authorities and the approval of the General Assembly on the capital increase and number of granted shares. |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2023-03-30 Corresponding to 1444-09-08 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Aljazira Takaful Company announces the receipt of a letter from Saudi Central Bank dated 09/25/1444 AH corresponding to 04/16/2023 AD, which containing Saudi Central Bank approval to increasing company’s capital from 550,000,000 Saudi riyals to 660,000,000 Saudi riyals, by 20% through granting bonus shares. Such increase will be via capitalizing 110,000,000 Saudi Riyals from the Share Premium Account.
The letter also contains Saudi central bank no objection to amend the "capital" article in the company's articles of association in accordance with the new capital.
The letter stipulated that the company should fulfill all requirements of other official authorities. |
| Financial Impact on the change | - |
| Additional Information | The company will announce any future developments in this regard as they become available. |
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