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CHUBB Arabia Cooperative Insurance Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares
8240
CHUBB
0.64
%
1446/11/24 22/05/2025 08:00:54
| Element List | Explanation |
|---|---|
| Introduction | Chubb Arabia board of director's recommended to the Extraordinary General Assembly to increase Chubb Arabia's capital by 33.33% through the granting of bonus shares. This increase will be achieved by capitalizing SAR 52 million from retained earnings and SAR 48 million from statutory reserves. Each shareholder will receive 1 bonus share for every 3 shares owned as of the eligibility date. |
| Date of Board Meeting | 2025-05-21 Corresponding to 1446-11-23 |
| Capital before increase | 300,000,000 |
| Capital after increase | 400,000,000 |
| Percentage of Capital increase | 33.33 % |
| Number of shares before Capital increase | 30000000 |
| Number of shares after Capital increase | 40000000 |
| Reasons for the increase | To support and strengthen the capital base and future business activities of the company. |
| Number of Shares Granted per Exiting Share | Granting 1 share for each 3 shares. |
| Nature and Value of Reserves Used in the Capitalization | The increases will be through capitalizing SAR 52,000,000 from the retained earnings and SAR 48,000,000 million from the Statutory Reserve. |
| 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, Chubb Arabia 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 ownership percentage during 30 days from the allocation of new shares to each shareholder. |
| Approvals | The proposed grant remains subject to obtaining necessary approvals from competent 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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