Logo of Leen Alkhair Trading Co.
Leen Alkhair Trading Co.'s shareholders approved, on Oct. 25, the board's recommendation to increase capital by 100% by capitalizing a portion of retained earnings, the company said in a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 40.80 mln |
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Current Number of Shares |
4.08 mln |
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Percentage of Capital Increase |
100% (One-for-one bonus issue to every shareholder) |
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Method |
Capitalizing SAR 40.8 mln from retained earnings |
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New Capital |
SAR 81.60 mln |
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New Number of Shares |
8.16 mln |
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Reason |
Enhancing the strategic growth plan, future expansion, reinforcing financial solvency and financial position |
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Record Date |
Oct. 25, 2023 (Shareholders of record and those registered with Edaa on the second trading day following the EGM date) |
The company said in a statement on Tadawul that fractional shares, if any, will be collected in a single portfolio to be sold at market price. The value will be distributed to eligible shareholders on pro rata within 30 days of the allocation date.
In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits today, Oct. 26, for Leen Alkhair will be based on a share price of SAR 29.05. Accordingly, the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into investors’ portfolios by Monday, Oct. 30.
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