Electrical Industries shareholders to vote on 25% bonus issue on June 21

30/05/2023 Argaam
Logo ofElectrical Industries Co.

Logo of Electrical Industries Co.

Electrical Industries Co.'s shareholders will vote on increasing capital by 25% to SAR 562.50 million through a one-for-four bonus share distribution, during the extraordinary general meeting (EGM) scheduled for June 21.

 

Capital Increase Details

Current Capital

SAR 450 mln

Number of Shares

45 mln

Percentage of Increase

25%

Method

Distribution of one share for every four held shares by capitalizing SAR 112.5 million from retained earnings

New Capital

SAR 562.50 mln

Number of Shares

56.25 mln

Reason

Supporting and strengthening the financial position to achieve the business growth strategy

Record Date

 

Shareholders of record by the close of trading on the EGM date and those who are registered with Edaa by the end of the second trading day following the EGM 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 on a pro rata basis, within 30 days, according to a statement to Tadawul.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.