Nofoth board recommends 100% capital increase via bonus issue

Nofoth board recommends 100% capital increase

Logo of Nofoth Food Products Co.

Nofoth Food Products Co.’s board of directors recommended doubling the company’s capital to SAR 48 million through a 1-for-1 bonus-share distribution, according to a statement to Tadawul.

Capital Increase Highlights
Current capital	SAR 24 mln
Number of shares	24 mln
Stock nominal value	SAR 1
Percentage of increase	100%
New capital after increase	SAR 48 mln
Number of shares	48 mln
Method	Capitalizing SAR 24 mln from retained earnings
Reason	Support the company to deliver its expansion and growth strategy and maximize shareholders’ return through increasing and diversifying trademarks and seizing expected growth opportunities in the food sector.
Record date	Shareholders of record by the close of trading on the EGM date, to be set later, and those registered with Edaa by the close of the second trading day following the EGM.

In case there are fractional shares, they will be collected in one portfolio for all shareholders and sold at market price. Their value will be distributed among the eligible shareholders, on a pro rata basis, within 30 days maximum from the date of determining the new shares eligible for each shareholder.

The bonus share distribution is subject to the approval of the competent authorities and the company’s EGM, Nofoth added.

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