Logo of Al Hassan Ghazi Ibrahim Shaker Co. (Shaker)
The Capital Market Authority (CMA) approved Al Hassan Ghazi Ibrahim Shaker Co.’s (Shaker) request to increase its capital by 22% from SAR 555 million to SAR 677.1 million, the market regulator said in a statement. 
The CMA said the potential capital hike will be carried out via distributing bonus shares at one share for each five held shares. The issuance will be eligible to shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
The capital top-up will be funded by capitalizing SAR 122.1 million from retained earnings.
The company’s extraordinary general assembly meeting (EGM) will be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws.
According to Argaam’s data, Shaker’s board of directors proposed in August raising the company’s capital by 22%.
Capital Increase Details
Current Capital
SAR 555 mln
Current No. of Shares
55.5 mln
Percentage of Capital Increase
22%
Method
Capitalizing SAR 122.1 mln from retained earnings balance
Bonus Shares
11.1mln (1-for-5bonus share issue, or 20% of capital)
Treasury Shares
1.11 mln (2% of capital)
New Capital
SAR 677.1 mln
New No. of Shares
67.71 mln
Reason
To support the company’s future plans
Record Date
Shareholders of record and registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
Logo of Al Hassan Ghazi Ibrahim Shaker Co. (Shaker)
The Capital Market Authority (CMA) approved Al Hassan Ghazi Ibrahim Shaker Co.’s (Shaker) request to increase its capital by 22% from SAR 555 million to SAR 677.1 million, the market regulator said in a statement.
The CMA said the potential capital hike will be carried out via distributing bonus shares at one share for each five held shares. The issuance will be eligible to shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
The capital top-up will be funded by capitalizing SAR 122.1 million from retained earnings.
The company’s extraordinary general assembly meeting (EGM) will be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws.
According to Argaam’s data, Shaker’s board of directors proposed in August raising the company’s capital by 22%.
Capital Increase Details
Current Capital
SAR 555 mln
Current No. of Shares
55.5 mln
Percentage of Capital Increase
22%
Method
Capitalizing SAR 122.1 mln from retained earnings balance
Bonus Shares
11.1mln (1-for-5bonus share issue, or 20% of capital)
Treasury Shares
1.11 mln (2% of capital)
New Capital
SAR 677.1 mln
New No. of Shares
67.71 mln
Reason
To support the company’s future plans
Record Date
Shareholders of record and registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
