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Bank AlJazira Announces the Board’s Recommendation to Increase the Capital by Granting Bonus Shares

1020
BJAZ
-0.62 %
1445/07/13     25/01/2024 15:50:23

Element ListExplanation
Introduction Bank AlJazira announces the Board of Directors resolution dated 25 January 2024 recommending to the Extraordinary General Assembly of the Bank to increase the Bank’s capital through capitalization from the Statutory Reserve by way of granting 1 share for every 4 shares.
Date of Board Meeting 2024-01-25 Corresponding to 1445-07-13
Capital before increase 8,200,000,000 Saudi Riyal
Capital after increase 10,250,000,000 Saudi Riyal
Percentage of Capital increase 25 %
Number of shares before Capital increase 820000000
Number of shares after Capital increase 1025000000
Reasons for the increase The aim of this proposed increase in the capital is to strengthen the capital base of the Bank which will contribute to enable the Bank to achieve its strategic objectives.
Number of Shares Granted per Exiting Share 1 share for every 4 shares.
Nature and Value of Reserves Used in the Capitalization The increase in capital will be by capitalizing the amount of 2,050,000,000 Saudi Riyal from the Statutory Reserve account.
Eligibility Date The shareholders registered in the Bank's shareholders' register with the Securities Depository Center Company (Edaa) by the end of the second trading day following the date of the Extraordinary General Assembly meeting, which will be scheduled later, will be eligible for the bonus shares.
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 and then 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 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 12.78
Net Change -0.08 (-0.62%)
Value Traded (Sar) 38,900,055.9
Volume Traded 3,053,768
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