Dallah Healthcare Co.’s extraordinary general meeting (EGM) held on Sunday, Sept. 13, approved the capital increase from SAR 750 million to SAR 900 million through the distribution of 20% bonus shares.

 

Details of the capital increase through bonus shares

Current Capital

SAR 750 million

Number of shares

75 million

Percentage of increase

20% (1 share for every 5 shares held)

Capital after increase

SAR 900 million

Number of shares after increase

90 million

Due date

Sept. 13, 2020 (and those registered in the shareholders registry at the Depository Center at the end of the second trading day following the maturity date)

Reason for increase

To match the company’s share capital to its assets level, and support investments and future expansions.

Method of increase

Capitalization of SAR 150 million from statutory reserve

 

Dallah Healthcare’s EGM also agreed to amend the purpose of the company’s purchase of its shares and to keep them as treasury shares as follows:

 

Current purpose: The board believes that the share price in the market is less than its fair value

 

Proposed amendment: To fund the share swap transaction with Kingdom Investment and Development Company for its shares in Shield Care Holding Company Ltd.

 

Meanwhile, the Saudi Stock Exchange (Tadawul) in a separate statement said that Dallah Healthcare’s share fluctuation limit will be calculated based on the price of SAR 47.4 starting today, Sept. 14, 2020, and the outstanding orders will be cancelled.

 

Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by Wednesday, Sept. 16.

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