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BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES THAT THE BOARD OF DIRECTORS HAS RECOMMENDED AN INCREASE IN THE COMPANY'S CAPITAL THROUGH BONUS SHARES.

8210
BUPA ARABIA
-2.53 %
1439/07/29     15/04/2018 15:59:49

The Board of Directors of Bupa Arabia for Cooperative Insurance Company has recommended, on Sunday 15 April 2018G, corresponding to 29 Rajab 1439H, to the Extraordinary General Shareholders Assembly, an increase in the capital of the Company, through bonus shares as per the below:

1-The Company's Capital amount before the increase is SR800 Million, and after the increase will be SR1,200 Million, representing an increase of SR400 Million, an increase of 50%,

2-The number of shares before the increase is 80 million shares and the number of shares after the increase will be 120 Million shares, representing an increase of 40 Million shares,

3-This recommendation is based on the Board's desire to strengthen the Company's capital base and support its future activities,

4-Through the issuing of 1 bonus share for every 2 shares held,

5-The capital increase will be completed through the utilisation of SR400 Million of the Company's existing retained income reserves,

6-The eligibility for these Bonus shares will be limited to the shareholders owning shares at the end of the day of the Extraordinary General Assembly Meeting (EGM) of the Company and who are registered in the shareholder's register of the Company in the Securities Depository Center (Edaa) at the close of the second trading day after the date of the EGM meeting day. The EGM will be held during 2018 and will be announced at a later date after obtaining the necessary approvals from the relevant authorities,

In the case of any bonus shares having fractions these will be collected into one investment portfolio and will then be sold at market price within thirty days from the completion date of the allocation of the new shares.

The Company also wishes to draw the attention of the shareholders to the fact that this proposed increase in capital will only be initiated once all necessary approvals are received from all the required official authorities, as well as from the shareholders in the EGM.

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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Key Parameters
Last Price 239.2
Net Change -6.2 (-2.53%)
Value Traded (Sar) 46,769,901
Volume Traded 192,644
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