Arabian Pipes Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares

4.00 %
1445/04/25     09/11/2023 09:06:55

Element ListExplanation
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 182.0
Net Change 7.0 (+4.0%)
Value Traded (Sar) 83,435,939.2
Volume Traded 457,792
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