Burgerizzr shareholders to vote on 40% bonus issue to raise capital on June 30

09/06/2022 Argaam
Burgerizzr logo

Burgerizzr logo


Shatirah House Restaurant Co.’s (Burgerizzr) shareholders will vote on increasing capital through a 40% bonus issue, during an extraordinary general assembly meeting (EGM), scheduled for June 30, according to a bourse filing.  

 

Details of Bonus Issue 

Current Capital 

SAR 25 mln 

Number of Shares 

2.5 mln  

Increase % 

40% (two shares for every 5 shares held) 

New Capital 

SAR 35 mln 

Number of Shares 

3.5 mln  

Reason 

To keep up with company's growth, expand its business and enhance its financial position 

Method of Increase 

Through capitalizing SAR 10 million from retained earnings 

Record Date 

June 30, 2022 (for shareholders registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the record date) 

 

Shareholders will also vote on authorizing the board of directors to distribute interim dividends quarterly or semi-annually for the fiscal year 2022, the statement added.

 

Moreover, they will also vote on the company's dividend policy, as well as policies, standards and procedures for membership on the board of directors. 

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