Dallah Healthcare Co.'s shareholders will discuss the board's recommendation on a capital increase from SAR 750 million to SAR 900 million via a bonus issue at 20%, or 1-for-5, during the extraordinary general meeting (EGM) slated for Sep. 13, 2020, the company said in a bourse filing.
The capital increase will go for adjusting the share capital to the assets size, boosting investments and financing expansions.
The capital top-up will be financed through the capitalization of SAR 150 million from the statutory reserve.
Share fractions will be reoffered pro rate within 30 days of new shares allocation.
Shareholders will also vote on amending the purpose of a share buyback.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 750 mln |
|
Number of shares |
75 mln |
|
Hike (%) |
20% (1 share for every 5 shares) |
|
New Capital |
SAR 900 mln |
|
New number of shares |
90 mln |
|
Record date |
Second trading day after record date |
|
Driver |
To match the company’s share capital to its assets level, support investments, and future expansions. |
|
Method |
Through capitalizing SAR 150 mln from statutory reserve. |
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