Halwani shareholders to vote on capital hike via 12.5% bonus issue on April 28

  • HB(0.74%)
07/04/2021 Argaam

Logo of Halwani Bros. Co.

Halwani Bros. Co.’s shareholders are set to vote on the board’s 12.5% capital hike recommendation through one-for-eight bonus share distribution, during the extraordinary general meeting (EGM) that will be held on April 28, 2021.

 

Details of capital increase via bonus shares

Current Capital

SAR 314.29 million

Number of shares

31.43 million

Percentage of increase

12.5% (1 share for every 8 shares held)

Capital after increase

SAR 353.57 million

Number of shares after increase

35.36 million

Due date

April 28, 2021 (Shareholders registered in the shareholders registry at the Depository Center at the end of the second trading day following the general meeting date)

Reason for increase

To boost the company's capital to match its business size and future goals.

Method of increase

Capitalization of SAR 39.3 million from statutory reserve

 

They will also vote on delegating the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2021.

 

Shareholders can vote on the agenda items as of April 25, 2021, through the Tadawulaty services.

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