Thob Al Aseel shareholders to vote on capital hike on July 4

13/06/2018 Argaam

Thob Al Aseel Co.’s shareholders are set to vote on a 100 percent capital hike to SAR 300 million from SAR 150 million, on July 4, 2018.

 

The capital hike, which will be financed from retained earnings account, aims to support the company's capital base which will contribute to future expansions and maintaining solvency margin. 

  

Key Figures of the Capital Hike

Current Capital

SAR 150 mln

Number of shares

15 mln shares

Hike (%)

100% (1 for every 1 shares)

New Capital

SAR 300 mln

New number of shares

30 mln shares

Method

Bonus shares

Driver

Increasing capital base, supporting expansion plans and solvency margin. 

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