Logo of Medical Equipment House Co. (Equipment House)
Shareholders of Scientific and Medical Equipment House Co. (Equipment House) approved increasing capital by 50% through a 1-for-2 bonus share distribution, during the extraordinary general meeting (EGM) held on Sept. 3.
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Capital Increase Details |
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Current Capital |
SAR 200 million |
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Number of Shares |
20 mln shares |
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Percentage of Increase |
50% |
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Method |
Distributing one share per every two shares held, through capitalization of SAR 100 mln from retained earnings |
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New Capital |
SAR 300 mln |
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Number of Shares |
30 mln shares |
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Reason |
To enhance the company's strategic growth and underline its financial solvency and strength of its financial position. |
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Record Date
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Sept. 3, 2023 (Shareholders of record with Edaa by the close of the second trading day following the EGM date). |
In case there are fractional shares, they will be collected in one portfolio for all shareholders and sold at market price. Their value will be distributed among the eligible shareholders, on a pro rata basis, within 30 days maximum from the date of determining the new shares eligible for each shareholder, according to the company's statement.
In a separate statement, the Saudi Exchange (Tadawul) set the daily trading fluctuation limit for the stock based on a share price of SAR 47.95 as of today, Sept. 4. Accordingly, the outstanding orders will be canceled.
The Securities Depository Center Co. (Edaa) will deposit the bonus shares into investor portfolios by Sept. 6.
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