Fesh Fash Snack Food Production Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bonus Shares

0.63 %
1444/04/12     06/11/2022 08:01:09

Element ListExplanation
Introduction The decision of the Board of Directors of Fesh Fash Snack food production Company, in its meeting on 09/04/1444 corresponding to 03/11/2022, to increase the company’s capital by granting free shares to the company’s shareholders by capitalizing an amount of (1245555) one million two hundred and forty-five thousand five hundred and fifty-five Riyals from the statutory reserve account, and capitalization of an amount of (2521112) two million five hundred and twenty-one thousand one hundred and twelve riyals from the retained earnings account.
Date of Board Meeting 2022-11-03 Corresponding to 1444-04-09
Capital before increase 11300000
Capital after increase 15066667
Percentage of Capital increase 33 %
Number of shares before Capital increase 1130000
Number of shares after Capital increase 1506667
Reasons for the increase The capital increase aims to enhance the company’s solvency and strengthen the company’s capital to match its business volume and future plans.
Number of Shares Granted per Exiting Share One share for every three shares
Nature and Value of Reserves Used in the Capitalization Capitalization of an amount of (1245555) one million two hundred and forty-five thousand five hundred and fifty-five riyals from the statutory reserve account, and the capitalization of an amount of (2521112) two million, five hundred and twenty-one thousand, one hundred and twelve riyals from the retained earnings account
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 in any of the free shares, it will be aggregated into one portfolio for all shareholders and sold at the market price, then its 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 renewing the new shares due for each shareholder.
Approvals The grant is conditional on obtaining the approval of the official authorities and the extraordinary general assembly on an increase in the capital and the number of shares granted

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 16.0
Net Change 0.1 (+0.63%)
Value Traded (Sar) 526,309.38
Volume Traded 32,972
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