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Arabian Pipes Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares
2200
APC
0.55
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1445/04/25 09/11/2023 09:06:55
| Element List | Explanation |
|---|---|
| Introduction | Arabian Pipes company announces the decision made by the Board of Directors on 24-04-1445 corresponding to 08-11-2023 AD. The board has recommended to the extraordinary general assembly of the company to increase the capital by capitalizing a portion of the retained earnings, granting one share for every 2 shares |
| Date of Board Meeting | 2023-11-08 Corresponding to 1445-04-24 |
| Capital before increase | 100,000,000 Saudi riyals |
| Capital after increase | 150,000,000 Saudi riyals |
| Percentage of Capital increase | 50 % |
| Number of shares before Capital increase | 10000000 |
| Number of shares after Capital increase | 15000000 |
| Reasons for the increase | Supporting the company's financial position and future growth plans |
| Number of Shares Granted per Exiting Share | 1 share every 2 shares |
| Nature and Value of Reserves Used in the Capitalization | Only 50,000,000 Saudi riyals will be capitalized 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 the event of fractional shares, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of determining the new shares due to each shareholder. |
| Approvals | The grant is conditional on obtaining the approval of the official authorities and the extraordinary general assembly on the increase in the capital and the number of granted share |
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 184.0
Net Change 1.0 (+0.55%)
Value Traded (Sar) 32,303,696.8
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