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ADDENDUM ANNOUNCEMENT FROM BUPA ARABIA FOR COOPERATIVE INSURANCE CO. RELATED TO THE BOARD OF DIRECTORS RECOMMENDATION TO INCREASE THE COMPANY'S CAPITAL THROUGH BONUS SHARES
8210
BUPA ARABIA
2.26
%
1443/12/04 03/07/2022 08:30:52
| Element List | Explanation |
|---|---|
| Introduction | With reference to the Company's announcement dated 13th June 2022G, corresponding to 14 Dhu-al-Qi'dah 1443H, relating to the recommendation of its Board of Directors, to the General Assembly, subject to the obtaining of all required approvals from all the concerned authorities, to increase the capital of the Company through bonus shares, Bupa Arabia for Cooperative Insurance announces receiving the Saudi Central Bank ("SAMA") no-objection for the proposed capital increase. The SAMA no-objection was received on 30th June 2022G, corresponding to 1 Dhu Al-Hijjah 1443H. |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2022-06-13 Corresponding to 1443-11-14 |
| URL of the Previous Announcement | Click Here |
| Change on the Development | The company has received the Saudi Central Bank no-objection for the proposed increase in the capital of the Company by 25% from (1,200) Millions Saudi Riyal to (1,500) Millions Saudi Riyal. This increase will be done through issuing bonus shares by the utilization of SAR300 Million of the Company's existing retained income reserves by the issuing of 1 bonus share for every 4 shares held. |
| Financial Impact on the change | There is no financial impact |
| Additional Information | The Company will be submitting its application to the Capital Market Authority (CMA) and completing all other regulatory approvals and processes in due course. The proposed increase in capital will only be initiated once all necessary approvals are received from all the required official authorities, as well as subject thereafter to the approval from the shareholders in the Extraordinary General Assembly Meeting (EGM), and the EGM date will be announced at a later stage. |
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 244.4
Net Change 5.4 (+2.26%)
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