Saudi Ceramic shareholders approve capital increase to SAR 800 mln via bonus issue

31/03/2021 Argaam


Saudi Ceramic Co.’s shareholders approved the board’s recommendation on a 33.3% capital hike to SAR 800 million from SAR 600 million, during the extraordinary general meeting (EGM) held on March 30, 2021.

 

The capital hike will take place through a bonus share distribution at one bonus share for every three shares held. The process will be financed by transferring SAR 200 million from retained earnings.

 

The price fluctuation limit will be based on a share price of SAR 41.25 on March 31, 2021.

 

The additional shares will be deposited into investor's portfolios before the start of trading on Sunday, April 4, 2021.

 

Key Figures of the Capital Hike

Current Capital

SAR 600 mln

Number of shares

60 mln

Hike (%)

33.3% (one share for every existing three shares)

New Capital

SAR 800 mln

New number of shares

80 mln

Record date

March 30, 2021 (Shareholders’ registered at the Edaa at the end of the second trading day following the EGM)

Method

Capitalization of SAR 200 million from retained earnings

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.