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Scientific & Medical Equip. House Co. announces the Board’s Recommendation to Increase the Capital by Granting Bonus Shares
4014
EQUIPMENT HOUSE
2.41
%
1444/11/22 11/06/2023 13:14:04
| Element List | Explanation |
|---|---|
| Introduction | Scientific & Medical Equip House Co. announces the issuance of the decision of the Board of Directors in its meeting held on Sunday, 22 Dhu al-Qi`dah 1444 AH corresponding 11 June 2023 AD to recommend to the Extraordinary General Assembly to increase the company’s capital by granting bonus shares to the company’s shareholders by capitalizing 100 million riyals of profits retained and award one share for every two shares owned. |
| Date of Board Meeting | 2023-06-11 Corresponding to 1444-11-22 |
| Capital before increase | 200,000,000 |
| Capital after increase | 300,000,000 |
| Percentage of Capital increase | 50 % |
| Number of shares before Capital increase | 20000000 |
| Number of shares after Capital increase | 30000000 |
| Reasons for the increase | Promoting the strategic growth of the company and emphasizing the company's financial solvency and the strength of its financial position. |
| Number of Shares Granted per Exiting Share | One share for every two shares owned |
| Nature and Value of Reserves Used in the Capitalization | The increase will be by through capitalizing SAR 100,000,000 from the 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 Eligibility Date |
| Fractional Shares | In case of bonus shares fractions occurrence, Scientific & Medical Equip House Co. will collect all fractions in a single portfolio to be sold at market price, the value will be distributed to eligible shareholders each by their share during (30) days from the allocation of new shares to each shareholder |
| Approvals | The proposed grant is subject to obtaining necessary approvals from official authorities and Extraordinary General Assembly on the capital increase and number of granted 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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