Al-Jouf Mineral Water shareholders to vote on 50% capital hike via bonus issue on Jan. 24

Logo of Al-Jouf Mineral Water Bottling Co.

Al-Jouf Mineral Water Bottling Co.’s shareholders are set to vote on increasing capital by 50% through a one-for-two bonus share distribution, during the extraordinary general assembly meeting (EGM) scheduled for Jan. 24, 2023.

Details of Bonus Issue
Current Capital	SAR 31.25 mln
Number of Shares	3.13 mln
Percentage of Increase	50% (1 bonus share for every 2 shares held)
New Capital	SAR 46.88 mln
Number of Shares	4.69 mln
Reason	To support and enhance the company’s future activities.
Method	Capitalizing SAR 15.63 mln from retained earnings account.
Record Date	Jan. 24, 2023, including shareholders of record in the issuer’s register with the Securities Depository Center Co. (Edaa) by the close of the second trading day following this date.

In June, Al-Jouf Mineral Water’s board of directors recommended increasing the company’s capital by 50% through a one-for-two bonus share distribution, Argaam earlier reported.

The Capital Market Authority (CMA) gave the green light for company’s request to increase its capital in November.

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