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Middle East Paper Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares

Element ListExplanation
Introduction The Board of Directors of Middle East Paper Co. (MEPCO) has recommended by circulation to the Extraordinary General Shareholders Assembly an increase in the capital of the Company by 33%. This increase will be done through issuing bonus shares by using SAR 166,666,660 of the Company's existing retained income reserves by issuing 1 bonus share for every 3 shares held.
Date of Board Meeting 2022-08-14 Corresponding to 1444-01-16
Capital before increase 500,000,000
Capital after increase 666,666,660
Percentage of Capital increase 33 %
Number of shares before Capital increase 50000000
Number of shares after Capital increase 66666666
Reasons for the increase Support the company's financial position and future growth plans
Number of Shares Granted per Exiting Share Granting 1 bonus share for every 3 shares held
Nature and Value of Reserves Used in the Capitalization Utilizing Retained Earnings amounting to 166,666,660
Eligibility Date The eligibility for Shareholders who own the shares on the due date at the end of the trading day of the company’s extraordinary general assembly and who are registered in the company’s shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the company’s extraordinary general assembly, which will be announced later.
Fractional Shares The company will collect all fraction shares in one portfolio to be sold at market price, then 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 remains subject to obtaining necessary approvals from official entities and the 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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Last Price Net Change
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Value Traded (SAR) Volume Traded
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