Thob Al Aseel Co.’s general assembly has approved a 100 percent capital hike to SAR 300 million from SAR 150million through the issue of one bonus share for every one share held.

 

The capital hike will be financed through capitalizing SAR 30 million from retained earnings account, SAR 119.6 million from other reserves account with SAR 404 to be paid from general reserve, the company said in a bourse statement.

 

Key Figures of the Capital Hike

Current Capital

SAR 150 mln

Number of shares

15 mln shares

Hike (%)

100% (1 for every 1 shares)

New Capital

SAR 300 mln

New number of shares

30 mln shares

Method

Bonus shares

Record date

July 4, 2018

Driver

Increasing capital base, supporting expansion plans and solvency margin. 

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