Middle East Pharmaceutical Industries Company announces the Board of Directors’ recommendation to the Extraordinary General Assembly to increase the company’s capital by granting shares.
Date of Board Meeting
2026-01-29 Corresponding to 1447-08-10
Capital before increase
SAR 200,000,000
Capital after increase
SAR 350,000,000
Percentage of Capital increase
75 %
Number of shares before Capital increase
20000000
Number of shares after Capital increase
35000000
Reasons for the increase
To support the Company’s growth strategy, enhance its capital base, and strengthen its financial position to implement its future plans and activities, thereby contributing to enabling the Company to expand and maximize returns on shareholders’ equity.
Number of Shares Granted per Exiting Share
Three (3) shares for every four (4) shares held.
Nature and Value of Reserves Used in the Capitalization
The increase will be through capitalizing 150,000,000 SAR from the retained earnings.
Eligibility Date
The eligibility of the bonus shares shall be for shareholders owning shares by the end of trading day of the Company’s Extraordinary General Assembly meeting date (which will be announced later) and are registered at Securities Depository Center Company (Edaa) by the end of the second trading day following the Extraordinary General Assembly meeting date
Fractional Shares
In the event of fractional shares, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to their share, within a period not exceeding 30 days from the date of determining the new shares due to each shareholder.
Approvals
The capital increase, issuance of bonus shares, and treasury shares are subject to obtaining the necessary approvals from the relevant regulatory authorities and the Company’s Extraordinary General Assembly.
Comments
Sorry!
You need to log in to your account on the website. If you don't have an account, you can register now to take advantage of this feature
Comments