Logo of Leen Alkhair Trading Co.

Leen Alkhair Trading Co.'s board of directors recommended increasing capital by 74%, through capitalizing part of retained earnings, by a 3-for-4 bonus share distribution.

 

The increase will be carried out by capitalizing SAR 30.2 million from the retained earnings account. The bonus issue is conditional on obtaining the approvals of the official authorities and the company's extraordinary general assembly on the capital increase and the number of shares granted.

 

Capital Increase Details

Current Capital

SAR 40.80 mln

Number of Shares

4.08 mln shares

Percentage of Increase

74%

Method

Three shares will be granted to each shareholder who owns four shares


 

New Capital

SAR 71.00 mln

Number of Shares

7.10 mln shares

Reason

The company aims to boost its strategic growth plan and the needs and aspirations of future expansions and to confirm its financial solvency, in addition to strengthing its financial position

Record Date

 

Shareholders owning the shares on record date in the register of shareholders at Edaa by the end of second trading day after record date.
 

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