AlKhaleej: 16.66% Proposed Capital raise

19/02/2014 Argaam

A 16.66 % Capital raise of AlKhaleej Training & Education Company (from SR 300 mn to SR 350mn) was approved in BOD meeting that was held on 19/02/2014.

The proposed capital raise will be used to expand educational projects.

The Capital raise is to take place by issuing 1 bonus share to each 6 shares owned by registered shareholders, as SAR 50mn of retained earnings will be capitalized.

 

By this issuance the number of outstanding shares will increase from 30 mn shares to 35 mn shares.

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