Thob Al Aseel Co. — Share Issue/Capital Change 2021

Jul 15, 2021

Thob Al Aseel Co. Announces the Board’s of Directors Recommendation to Increase the Capital by Granting Bouns Shares

4012 · 15/07/2021 09:34:37 · Announcement #64206 · View on Saudi Exchange

Thob Al Aseel Co. Announces the Board’s of Directors Recommendation to Increase the Capital by Granting Bouns Shares

Element List	Explanation
Introduction	Thob AL-Aseel Company Announces the Board of Directors’ recommendation to increase the Company’s capital by granting shares as follows:
Date of Board Meeting	2021-07-14 Corresponding to 1442-12-04
Capital before increase	300,000,000 Riyal
Capital after increase	400,000,000 Riyal
Percentage of Capital increase	33.33 %
Number of shares before Capital increase	30000000
Number of shares after Capital increase	40000000
Reasons for the increase	aims to to strengthen the Company’s capital to match the size of its business and expansion of its business during the coming years and maintaining Financial solvency.
Number of Shares Granted per Exiting Share	One share for every three owned shares
Nature and Value of Reserves Used in the Capitalization	The increase will be made by capitalizing SAR 100 Million of retained earnings and 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 the date f the Extraordinary General Assembly, which will be Announced later, After obtaining the necessary approvals from the competent Authorities
Fractional Shares	fraction bonus shares will be aggregated in one portfolio for all shareholders and sold at the market price, sale proceeds of which will be distributed to shareholders who are entitled to bonus shares. On pro rata basis within a period not exceeding 30 days from the date of determining the due new shares for each shareholder
Approvals	The bonus shares shall be subject to approval of the official entities and the Extraordinary General Assembly regarding the capital increase and the number of the bonus shares

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