Al Tayyar Travel Group’s board of directors has changed its bonus share issue to two shares for every five shares held through distributing 83.9 million shares, the company said in a bourse statement on Monday.
In addition, a total of 6.49 million shares were allocated for the planned employee stock ownership plan (the long-term incentive plan), the travel group said, adding it will develop the mechanism required for the program.
On Feb. 27, Al Tayyar’s board recommended a 43 percent capital hike to SAR 3 billion from SAR 2.096 million through issuance of three bonus shares for every seven shares held, Argaam reported.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 2096.5 mln |
|
Number of shares |
209.65 mln shares |
|
Hike (%) |
43% |
|
Bonus shares |
83.86 mln (2 shares for every 5 shares held) |
|
Employee stock ownership plan |
6.49 mln shares |
|
New Capital |
SAR 3000 mln |
|
New number of shares |
300 mln shares |
|
Record date |
On the extraordinary general assembly meeting date |
|
Driver |
To finance expansions |
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