Al Hammadi Hospital Al Suwaidi in Riyadh
Al Hammadi Company for Development and Investment’s shareholders will vote on a 33.3% capital increase to SAR 1.6 billion from SAR 1.2 billion, through issuing one bonus share for every three shares held, during an extraordinary general assembly meeting, to be held on June 20, according to a bourse filing.
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Capital Increase Details |
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Current Capital |
SAR 1.2 bln |
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Number of Shares |
120 mln |
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Percentage Increase |
33.3% (one share for every three shares held) |
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New Capital |
SAR 1.6 bln |
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Number of Shares |
160 mln |
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Reason |
To support capital base, which will reinforce the company's growth plans and future activities, while maximizing total shareholder returns. |
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Method |
Capitalizing retained earnings and a portion of statutory reserve, at a value of SAR 400 mln. |
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Record Date |
June 20, 2022 (for shareholders of record at the Securities Depository Center (Edaa) by the close of the second trading day following the record date). |
Shareholders will also vote on amending Article 2 of the Articles of Association related to changing the company's name to Al Hammadi Holding.
Other agenda items include voting on authorizing the board of directors to distribute interim dividends quarterly or semi-annually for 2023.
Shareholders will vote on electing new board members for the upcoming three-year term ending on June 21, 2025, as well as setting up the audit committee and its duties and remuneration.
The e-voting on the agenda items will start from June 16.
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