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Academy of Learning Company Announces the Board’s Recommendation to Increase the Capital by Granting Bonus Shares
9541
ACADEMY OF LEARNING
-6.67
%
1445/10/27 06/05/2024 08:06:21
| Element List | Explanation |
|---|---|
| Introduction | Academy of Learning Company Announces the Board’s Recommendation to Increase the Capital by Granting Bonus Shares to the company’s shareholders by capitalizing an amount of (30,000,000) thirty million Saudi riyals from retained earnings, which represents an increase of 50% of the company’s capital and granting one share for every two shares owned. |
| Date of Board Meeting | 2024-05-05 Corresponding to 1445-10-26 |
| Capital before increase | 60,000,000 |
| Capital after increase | 90,000,000 |
| Percentage of Capital increase | 50 % |
| Number of shares before Capital increase | 60000000 |
| Number of shares after Capital increase | 90000000 |
| Reasons for the increase | The Academy aims to strengthen its capital to match the size and growth of its business and its expansion according to the company's strategic objectives. Therefore, it was recommended to capitalize a portion of retained earnings and distribute bonus shares in return. |
| Number of Shares Granted per Exiting Share | One share for every two owned shares |
| Nature and Value of Reserves Used in the Capitalization | The increase will be made by capitalizing (30,000,000) thirty million Saudi riyals of retained earnings |
| Eligibility Date | Eligible Shareholders are those holding shares in the eligibility date as per the shareholders registry at the Deposit Center at the end of the second working day after the date of the Extraordinary General Assembly, which will be Announced later. |
| Fractional Shares | fraction bonus shares will be aggregated in one portfolio for all shareholders and sold at the market price, sale proceeds of which will be distributed to shareholders who are entitled to bonus shares. On pro rata basis within a period not exceeding 30 days from the date of determining the due new shares for each shareholder |
| Approvals | The bonus shares shall be subject to approval of the official entities and the Extraordinary General Assembly regarding the capital increase and the number of the bonus shares |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 11.2
Net Change -0.8 (-6.67%)
Value Traded (Sar) 2,148,159.86
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