Logo ofAl Rashid Industrial Co.
Al Rashid Industrial Co. said its board recommended on Dec. 22 a 50% increase in the company’s capital, from SAR 80 million to SAR 120 million, by granting one share for every two shares held. 
Capital Increase Details
Current Capital
SAR 80 million
Current No. of Shares
8 million shares
Increase Percentage
50% (one bonus share for every two shares held)
Method
Capitalization of SAR 40 million from retained earnings
New Capital
SAR 120 million
New No. of Shares
12 million shares
Reasons
Supporting the company’s growth and business expansion and strengthening its financial position
Record Date
Shareholders recorded in the company’s register with the Securities Depository Center (Edaa) by the close of the second trading day after the General Assembly, and who held shares at the end of trading on the assembly date.
In a statement toTadawul, the company said any fractional shares will be collected in a single portfolio to be sold at market price. The proceeds will then be distributed among eligible shareholders pro rata within 30 days maximum from the date of determining each shareholder’s eligible shares.
The company noted that the capital increase is subject to obtaining approvals from the relevant regulatory authorities, as well as the approval of the extraordinary general meeting (EGM).
Logo ofAl Rashid Industrial Co.
Al Rashid Industrial Co. said its board recommended on Dec. 22 a 50% increase in the company’s capital, from SAR 80 million to SAR 120 million, by granting one share for every two shares held.
Capital Increase Details
Current Capital
SAR 80 million
Current No. of Shares
8 million shares
Increase Percentage
50% (one bonus share for every two shares held)
Method
Capitalization of SAR 40 million from retained earnings
New Capital
SAR 120 million
New No. of Shares
12 million shares
Reasons
Supporting the company’s growth and business expansion and strengthening its financial position
Record Date
Shareholders recorded in the company’s register with the Securities Depository Center (Edaa) by the close of the second trading day after the General Assembly, and who held shares at the end of trading on the assembly date.
In a statement toTadawul, the company said any fractional shares will be collected in a single portfolio to be sold at market price. The proceeds will then be distributed among eligible shareholders pro rata within 30 days maximum from the date of determining each shareholder’s eligible shares.
The company noted that the capital increase is subject to obtaining approvals from the relevant regulatory authorities, as well as the approval of the extraordinary general meeting (EGM).
