Al Hammadi Company Development & Investment Co. approved on Wednesday a 60 percent capital raise from SAR 750 million to SAR 1,200 million through the issuance of three bonus shares for every five shares.

 

It also approved a 10 percent cash dividend to be issued at SAR 1 per share for 2014.

 

Moreover, the company’s assembly agreed to raise the bed capacity of its Al Hammadi Hospital project in Al-Nozha to 600 instead of 428. The project’s value was modified to SAR 683 million from SAR 663 million, and its pilot launch is scheduled in Q1-2016.

 

Capital Raise Details

SAR 750 mln

Current capital

75 mln shares

Number of shares

60% ( three shares for every 5 shares)

Capital raise percentage

SAR 1,200 mln

New capital

120 mln shares

Number of Shares after raise

April 15, 2015

Record date

Cash Dividend Details

SAR 75 mln

Cash dividend

10% ( SAR 1/share)

Percent of capital

April 15, 2015

Record date

Determined later

Payment day

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