| Element List |
Explanation |
| Introduction |
Saudi Ceramics Company announces the issuance of the Board of Directors' decision recommending to the Extraordinary General Assembly to increase the Company's capital by granting bonus shares to the Company's shareholders by capitalizing an amount of SAR 200,000,000 (two hundred million Saudi Riyals) from the retained earnings. |
| Date of Board Meeting |
2024-03-23 Corresponding to 1445-09-13 |
| Capital before increase |
800,000,000 SAR |
| Capital after increase |
SAR 1,000,000,000 |
| Percentage of Capital increase |
25 % |
| Number of shares before Capital increase |
80000000 |
| Number of shares after Capital increase |
100000000 |
| Reasons for the increase |
The Company aims to increase its capital to match the size of its business and assets and support its future expansions. |
| Number of Shares Granted per Exiting Share |
One share for every four shares owned |
| Nature and Value of Reserves Used in the Capitalization |
The increase will be achieved through the capitalization of SAR 200 million of 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 the event of fractional shares granted, the fractions will be consolidated in one portfolio for all shareholders and sold at the market price and then distributed to the shareholders entitled to the grant, each according to his share within a period not exceeding (30) days from the date of determining the new shares entitlement of each shareholder. |
| Approvals |
The grant is conditional on obtaining the approval of the competent authorities and the approval of the extraordinary general assembly to increase the capital and the number of shares granted. |
Comments