Saudi Chemical’s shareholders to vote on capital hike on Sept. 17

26/08/2019 Argaam

Saudi Chemical Co.’s shareholders are set to vote on a 33.33 percent capital hike to SAR 843.2 million from SAR 632.4 million through the issue bonus shares during the extraordinary general assembly meeting that will be held on Sept. 17, 2019.

 

The capital hike aims to boost the company’s capital base and future activities.

 

The process will be financed through capitalizing SAR 210.8 million from retained earnings account.

 

Key Figures of the Capital Hike

Current Capital

SAR 632.4 mln

Number of shares

63.24 mln

Hike (%)

33.33% (1 share for every 3 shares)

New Capital

SAR 843.2

New number of shares

84.3 mln

Method

Capitalizing SAR 210.8 mln from retained earnings account

Record date

Sept. 17, 2019

Driver

To boost the company’s capital base and future activities.

 

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