Tasnee announces 20% Capital raise

A 20% capital raise of The national industrial co. "Tasnee" (from SAR 5.6bn to SAR 6.7bn) was approved in the Extraordinary general assembly meeting that was held on 4 April, 2012.

The Capital raise is to take place by issuing one bonus share to each five shares owned by registered shareholders.

This SAR 1.1bn raise will be covered as follows:

a. SAR 300m from retained earnings.

b. SAR 800m from shares premium account.

By this issuance the number of outstanding shares will be increased from 557,428,471 shares to 668,914,166.