Logo of Middle East Paper Co. (MEPCO)
Middle East Paper Co.’s (MEPCO) shareholders will vote on the board’s recommendation to increase capital by 33.3%, or SAR 166.67 million, to SAR 666.67 million, during the extraordinary general meeting (EGM) scheduled for Nov. 24, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 500 mln |
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Number of Shares |
50 mln |
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Percentage of Increase |
33.3% |
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Method |
One bonus share for every three shares held, by the capitalization of SAR 166.67 million from retained earnings. |
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New Capital |
SAR 666.67 mln |
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Number of Shares |
66.67 mln |
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Reason |
Supporting the company’s financial position and growth plans |
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Record Date
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Nov. 24, 2022, shareholders registered with Edaa on the second trading day following the record date |
In case of fractional shares, they will be compiled in one portfolio and will be sold at market price. Proceeds will be distributed to shareholders pro rata, within 30 days.
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