15 Nov Zahrat Al-Waha Trading Company announces the board’s recommendation to the Extraordinary General Assembly for the capital increase by way of issuing bonus shares to the Company’s shareholders by capitalization from the retained earnings by way of granting one share for every two shares.
Date of Board Meeting: 15-11-2021 Corresponding to 10-04-1443
Capital before increase: 150,000,000 SR
Capital after increase: 225,000,000 SR
Percentage of Capital increase: 50%
Number of shares before Capital increase: 15,000,000
Number of shares after Capital increase: 22,500,000
Reasons for the increase: The increase in capital aims to enhance the company’s financial solvency and strengthen the company’s capital to match the size of its business and its future aspirations.
Number of Shares Granted per Exiting Share: One share for every two shares
Nature and Value of Reserves Used in the Capitalization: will be capitalized 75,000,000 SAR from the retained earnings
Eligibility Date: Eligibility for the shareholders of the company registered with the Securities Depository Center (Tadawul) at the end of the second trading day following the day of the company’s general assembly, and the date of the general assembly will be announced later
Fractional Shares: In the case of any bonus shares having fractions, these will be collected into one investment portfolio and will then be sold at a market price within 30 days from the date of determining the allocation of new shares due to each shareholder.
Approvals: The grant is conditional on the approval of the official authorities and the extraordinary General Assembly on the increase in capital and the number of shares granted.