Logo of Al Moammar Information System Co. (MIS)
Al Moammar Information System Co.’s (MIS) shareholders will vote on increasing the company’s capital from SAR 250 million to SAR 300 million through a one-for-five bonus share distribution, during the extraordinary general assembly meeting (EGM) to be held on June 22, according to a bourse statement.
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Details of Capital Increase |
|
|
Current capital |
SAR 250 mln |
|
Number of shares |
25 mln |
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Capital increase % |
20% (one share for every 5 shares held) |
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Capital after increase |
SAR 300 mln |
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Number of shares after increase |
30 mln |
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Method of increase |
Capitalizing SAR 50 mln from reserves and retained earnings. |
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Record date |
June 22 (Including shareholders registered with Edaa by the end of second trading day after the Record date) |
|
Objective |
To support and strengthen the company's capital base and future activities, which will contribute to achieving good growth rates in the coming years. |
Shareholders will also vote on amending Article No. 3 of the company's articles of association, related to the company's objectives, to add "accommodation and catering activities".
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