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Al-Rajhi Company for Cooperative Insurance (AlRajhi Takaful) Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares
| Element List | Explanation |
|---|---|
| Introduction | Al-Rajhi Company for Cooperative Insurance(AlRajhi Takaful) Board of Directors, through circulation on 21/10/1444 corresponding to 11/05/2023, recommended to the Extraordinary General Assembly to increase the AlRajhi Takaful’s capital by granting bonus shares to the AlRajhi Takaful’s shareholders through capitalization of SAR 600 Million from the retained earnings by way of granting 1.50 shares for every one share owned. The proposed grant is subject to obtaining necessary approvals from official authorities and Extraordinary General Assembly on the capital increase and number of granted shares |
| Date of Board Meeting | 2023-05-11 Corresponding to 1444-10-21 |
| Capital before increase | SAR 400,000,000 |
| Capital after increase | SAR 1,000,000,000 |
| Percentage of Capital increase | 150 % |
| Number of shares before Capital increase | 40000000 |
| Number of shares after Capital increase | 100000000 |
| Reasons for the increase | Supporting the capital base, which contributes to supporting the company's strategic and expansion plans by continuing to provide insurance solutions to the company's clients, including individuals, corporate and SMEs. |
| Number of Shares Granted per Exiting Share | Granting 1.50 share for each 1 share |
| Nature and Value of Reserves Used in the Capitalization | The increase will be through capitalizing SAR 600,000,000 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 case of bonus shares fractions occurrence; the AlRajhi Takaful will collect all fractions in a single portfolio to be sold at market price, the value will be distributed to eligible shareholders each by their share during 30 days from the allocation of new shares to each shareholder |
| Approvals | The proposed grant is subject to obtaining necessary approvals from official authorities and Extraordinary General Assembly on the capital increase and number of granted shares |
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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Company Performance
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Last Price 123.4
Net Change -1.4 (-1.12%)
Value Traded (Sar) 14,723,843.4
Volume Traded 118,958
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