AlJazira Takaful shareholders approve capital hike to SAR 550 mln via 16.9% bonus shares

01/12/2021 Argaam

Logo of Aljazira Takaful Taawuni Co.

AlJazira Takaful Taawuni Co.’s shareholders approved the board of directors’ recommendation to increase capital to SAR 550 million from SAR 470.66 million through 16.86% bonus shares, during the extraordinary general assembly meeting (EGM) held on Nov. 30.

 

Key Figures of the Capital Hike

Current capital

SAR 470.66 mln

Number of shares

47.07 mln

Hike (%)

16.86% (0.1686 share for every 1 outstanding share)

New capital

SAR 550 mln

New number of shares

55 mln

Method

Capitalizing SAR 79.34 mln from retained earnings account

Record date

Nov. 30, 2021 (Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM)

 

In a separate statement, Tadawul announced that the fluctuation limits for Aljazira Takaful will be based on a share price of SAR 22 and the outstanding orders will be canceled.

 

Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investors’ portfolios by Dec. 5.

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