ALMARAI COMPANY The Board of Directors of Almarai Company, during its meeting on the evening of June 7th 2017, has decided to recommend to an Extraordinary General Shareholders Assembly (EGM) an increase in its share capital from SAR 8,000 million to SAR 10,000 million through the distribution of one bonus share for each outstanding 4 shares (an increase of 25%), as a result the number of shares will increase from 800 million to 1,000 million.
The objective of this proposed share capital increase is to adjust the company's share capital to its assets level.
This share capital increase will be financed through the capitalization of SAR 2,000 million from the company retained earnings.
This proposed bonus share issuance will be limited to the shareholders who are registered in the shareholders register in Securities Depository Center Co (The Center) at the second day following the close day. Please note that in case of bonus shares fractions, the company will collect these fractions in one portfolio then proceed with selling with market price these fractions over a period of 30 days to complete their allocation to all new shares.
The company also wishes to draw the attention of shareholders that this bonus share issuance is conditional on the approval from the official authorities and the Extraordinary General Shareholders Assembly (EGM) to increase the company's capital.
1 | P a g eAlmarai Company published this content on 08 June 2017 and is solely responsible for the information contained herein.
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