‎CMCER plans 25% capital hike via bonus issue

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Logo ofCanadian Medical Center Co. (CMCER)

Canadian Medical Center Co. (CMCER) said its board of directors recommended on Aug. 6 a capital increase through a 1-for-4 bonus share issue, by capitalizing SAR 19.25 million from retained earnings, according to a statement to Tadawul.

Capital Increase Details

Current Capital

SAR 77 mln

Current Number of Shares

77 mln

Capital Increase

25% (1 shares for every 4 shares held)

Method

Capitalizing SAR 19.25 million from retained earnings

New Capital

SAR 96.25 mln

New Number of Shares

96.25 mln

Reason

Strengthen the company’s capital base to support its expansion and growth, thereby contributing to sustainable growth and maximizing shareholder value.

Record Date

Shareholders of record on day of extraordinary general meeting (EGM) and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the meeting.

Fractional shares, if any, will be compiled into a single portfolio for all shareholders,to besold atmarket price. Their valuewill bedistributed to eligible shareholders pro rata within a period not exceeding 30 days.

The company noted that the bonus share issue is subject to the approval of the relevant authorities and the EGM, including the proposed capital increase and the number of bonus shares to be issued.

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