Logo ofArabian Plastic Industrial Co. (APICO)
Arabian Plastic Industrial Co.’s (APICO) board of directors of recommended yesterday, March 15, increasing the company’s capital by 36%, from SAR 75 million to SAR 102 million, through the distribution of bonus shares to shareholders. 
According to a statement on Tadawul, the board also proposed allocating part of the shares to employee incentive programs (EIP), as shown in the following table:
Capital Increase Details
Current Capital
SAR 75.0 million
Current no. of shares
7.5 million shares
Increase rate
36%
Method
Capitalization of SAR 27 million from retained earnings and additional paid-in capital
Bonus shares
1 free share for every 3 owned shares
Treasury shares
200,000 shares (1.96% of post-increase capital) to be used for long-term employee incentive programs or other strategic purposes approved by the board
New capital
SAR 102.0 million
New no. of shares
10.2 million shares
Reason
Support the company’s expansion plans, strengthen its financial position, and support long-term employee incentive programs to attract, retain, and motivate talent
Recorddate
Shareholders owning shares on the entitlement date, registered in the issuer’s shareholder record at the depository center at the end of the second trading day following the entitlement date
Fractional shares, if any, will be compiled into a single portfolio for all shareholders,and will besold atmarket price. Their valuewill bedistributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase, issuance of bonus shares, and treasury shares are subject to obtaining the necessary approvals from the relevant regulatory authorities and the company’s EGM, the statement added.
Logo ofArabian Plastic Industrial Co. (APICO)
Arabian Plastic Industrial Co.’s (APICO) board of directors of recommended yesterday, March 15, increasing the company’s capital by 36%, from SAR 75 million to SAR 102 million, through the distribution of bonus shares to shareholders.
According to a statement on Tadawul, the board also proposed allocating part of the shares to employee incentive programs (EIP), as shown in the following table:
Capital Increase Details
Current Capital
SAR 75.0 million
Current no. of shares
7.5 million shares
Increase rate
36%
Method
Capitalization of SAR 27 million from retained earnings and additional paid-in capital
Bonus shares
1 free share for every 3 owned shares
Treasury shares
200,000 shares (1.96% of post-increase capital) to be used for long-term employee incentive programs or other strategic purposes approved by the board
New capital
SAR 102.0 million
New no. of shares
10.2 million shares
Reason
Support the company’s expansion plans, strengthen its financial position, and support long-term employee incentive programs to attract, retain, and motivate talent
Recorddate
Shareholders owning shares on the entitlement date, registered in the issuer’s shareholder record at the depository center at the end of the second trading day following the entitlement date
Fractional shares, if any, will be compiled into a single portfolio for all shareholders,and will besold atmarket price. Their valuewill bedistributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase, issuance of bonus shares, and treasury shares are subject to obtaining the necessary approvals from the relevant regulatory authorities and the company’s EGM, the statement added.
