| Element List |
Explanation |
| Introduction |
Aldrees Petroleum and Transport Services Co. (ALDREES) announces the Board’s resolution to increase the capital by granting shares |
| Date of Board Meeting |
2024-01-25 Corresponding to 1445-07-13 |
| Capital before increase |
750000000 SR |
| Capital after increase |
1000000000 SR |
| Percentage of Capital increase |
33.33 % |
| Number of shares before Capital increase |
75000000 |
| Number of shares after Capital increase |
100000000 |
| 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 3 shares owned |
| Nature and Value of Reserves Used in the Capitalization |
The increase in capitalization from the retained earnings |
| Eligibility Date |
The eligibility of the dividends shall be for shareholders owning shares by the end of trading day of the General Assembly meeting date (which will be announced later) and are registered at Depository Center at the end of the second trading day following the General Assembly Meeting 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