Logo of CHUBB Arabia Cooperative Insurance Co. (CHUBB)
CHUBB Arabia Cooperative Insurance Co.’s (CHUBB) board of directors recommended on May 21 a 33.33% capital increase from SAR 300 million to SAR 400 million through a 1-for-3 bonus share distribution. 
Accordingly, the board proposed capitalizing SAR 52 million from retained earnings and SAR 48 million from the statutory reserve, according to a statement toTadawul.
Capital Increase Details
Current Capital
SAR 300 mln
Number of Shares
30 mln
Proposed Increase
33.33%
Method
1-for-3 bonus issue
New Capital
SAR 400 mln
New Number of Shares
40 mln
Reason
To support and strengthen the company’s capital base and future activities.
Record Date
Shareholders of recordwho are registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
Utilized Reserves
Capitalizing SAR 52mlnfrom retained earnings and SAR 48mlnfrom the statutory reserve.
Fractional shares, if any, will be compiled in one portfolio and offeredat market price. The proceeds will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase and the bonus issue are subject to the approval of the official authorities and company shareholders.
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Logo of CHUBB Arabia Cooperative Insurance Co. (CHUBB)
CHUBB Arabia Cooperative Insurance Co.’s (CHUBB) board of directors recommended on May 21 a 33.33% capital increase from SAR 300 million to SAR 400 million through a 1-for-3 bonus share distribution.
Accordingly, the board proposed capitalizing SAR 52 million from retained earnings and SAR 48 million from the statutory reserve, according to a statement toTadawul.
Capital Increase Details
Current Capital
SAR 300 mln
Number of Shares
30 mln
Proposed Increase
33.33%
Method
1-for-3 bonus issue
New Capital
SAR 400 mln
New Number of Shares
40 mln
Reason
To support and strengthen the company’s capital base and future activities.
Record Date
Shareholders of recordwho are registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
Utilized Reserves
Capitalizing SAR 52mlnfrom retained earnings and SAR 48mlnfrom the statutory reserve.
Fractional shares, if any, will be compiled in one portfolio and offeredat market price. The proceeds will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase and the bonus issue are subject to the approval of the official authorities and company shareholders.
