Logo of Maharah Human Resources Co. (Maharah)
The Capital Market Authority (CMA) approvedMaharah Human Resources Co.’s request to increase its capital from SAR 475 million to SAR 600 million. 
In a statement, the authority said the increase will be carried out through the issuance of five bonus share for every 19 shares held.
Eligible shareholders are those registered with the Security Depository Center (Edaa) by the end of the second trading day after the record date that will be determined later.
The capital increase will be financed by transferring SAR 103.06 million from statutory reserve and SAR 21.9 million from the retained earnings balance, which will increase the number of shares from 475 million to 600 million.
The company’s extraordinary general meeting (EGM) shall be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws, said the regulator.
According toArgaam’s data, Mahara’s board recommended a26.32% capital hike via a bonus share distribution at 0.26-for-1, by capitalizing the entire statutory reserve of SAR 103.06 million and by drawing SAR 21.94 million from retained earnings.
Capital Increase Details
Current capital
SAR 475 mln
Number of shares
475 mln
Par value per share
SAR 1 per share
New Capital
SAR 600 mln
Number of shares
600 mln
Increase percentage
26.32% (0.2632 bonus share for each existing share)
Method
Capitalizing the entire statutory reserve of SAR 103.06 million and SAR 21.94 million from retained earnings
Record Date
Shareholders of record on the date of the extraordinary general meeting (EGM) and those registered with Edaa on the second trading day following the date of the meeting
Reason
To strengthen the company’s capital base and enhance its financial position
Logo of Maharah Human Resources Co. (Maharah)
The Capital Market Authority (CMA) approvedMaharah Human Resources Co.’s request to increase its capital from SAR 475 million to SAR 600 million.
In a statement, the authority said the increase will be carried out through the issuance of five bonus share for every 19 shares held.
Eligible shareholders are those registered with the Security Depository Center (Edaa) by the end of the second trading day after the record date that will be determined later.
The capital increase will be financed by transferring SAR 103.06 million from statutory reserve and SAR 21.9 million from the retained earnings balance, which will increase the number of shares from 475 million to 600 million.
The company’s extraordinary general meeting (EGM) shall be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws, said the regulator.
According toArgaam’s data, Mahara’s board recommended a26.32% capital hike via a bonus share distribution at 0.26-for-1, by capitalizing the entire statutory reserve of SAR 103.06 million and by drawing SAR 21.94 million from retained earnings.
Capital Increase Details
Current capital
SAR 475 mln
Number of shares
475 mln
Par value per share
SAR 1 per share
New Capital
SAR 600 mln
Number of shares
600 mln
Increase percentage
26.32% (0.2632 bonus share for each existing share)
Method
Capitalizing the entire statutory reserve of SAR 103.06 million and SAR 21.94 million from retained earnings
Record Date
Shareholders of record on the date of the extraordinary general meeting (EGM) and those registered with Edaa on the second trading day following the date of the meeting
Reason
To strengthen the company’s capital base and enhance its financial position
