eXtra green lights 20% capital hike to SAR 360 mln

28/04/2015 Argaam

United Electronics Company (eXtra) said it approved on Tuesday a 20 percent capital raise from SAR 300 million to SAR 360 million through the issuance of one bonus share for every five shares.

 

With the goal of financing its expansion plans, the company also decided to withhold a cash dividend for fourth quarter 2014.

 

According to data available on Argaam, eXtra distributed a 30 percent cash dividend for the first nine months of 2014.

 

Capital Raise Details

SAR 300 mln

Current capital

30 mln shares

Number of shares

20% ( one share for every 5 shares)

Capital raise percentage

SAR 360 mln

New capital

36 mln shares

Number of Shares after raise

April 27, 2015

Record date

Cash Dividend Details

SAR 90 mln

Cash dividend

30% ( SAR 3/share)

Percent of capital
 

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