Al Ahsa Development Co. shareholders are set to vote on a 50.47% capital hike to SAR 737.32 million from SAR 490 million during the extraordinary general assembly meeting that will be held on Feb. 2, 2020.
The company proposes to issue 24.7 million shares in a move to acquire the entire stake in Al Salam Medical Services, it said in a bourse filing to Tadawul on Thursday.
Accordingly, the number of shares will be increased from 49 million shares to 73.73 million.
The votes of related parties, represented in Ahmed Abdullah Abdulaziz Al-Khail, will not be counted, the statement noted.
In March 2019, Al Ahsa signed an agreement to acquire 100% of Al Salam Medical Services via increasing its capital by 51% to SAR 740 million.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 490 mln |
|
Number of shares |
49 mln |
|
Hike (%) |
50.47% |
|
New Capital |
SAR 737.32 |
|
New number of shares |
73.73 mln |
|
Record date |
Feb.2, 2020 |
|
Purpose of increase |
Acquisition of Al Salam Medical Services |
|
Number of issued shares |
24.73 mln |
|
Owners of newly issued shares |
To be distributed to the owners of the acquired company according to their stakes |
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