Naf plans to capitalize SAR 10 million from retained earnings to fund the proposed capital increase
Naf Co. for Feed for Industry said its board of directors, in its meeting held on August 16, recommended a 50% capital increase through a bonus issue, according to a statement to Tadawul. 
Capital Increase Details
Current Capital
SAR 20 mln
Number of Shares
20 mln
New Capital
SAR 30 mln
No. of Shares
30 mln
Increase Percentage
50%
Reason
Enhance financial position, and support growth plans
Bonus shares
One bonus share for every two existing shares
Method
Through capitalization of SAR 10 mln from the retained earnings.
Record Date
Shareholders of record on the extraordinary general meeting (EGM) date (which will be set later) and those registered with Edaa on the second trading day following the general meeting.
Fractional shares, if any, will be compiled into one portfolio for all shareholders and sold at market price, with the proceeds distributed pro rata, within a period not exceeding 30 days.
The bonus issue is subject to the approval of the relevant authorities and the general meeting, the statement added.
Naf plans to capitalize SAR 10 million from retained earnings to fund the proposed capital increase
Naf Co. for Feed for Industry said its board of directors, in its meeting held on August 16, recommended a 50% capital increase through a bonus issue, according to a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 20 mln
Number of Shares
20 mln
New Capital
SAR 30 mln
No. of Shares
30 mln
Increase Percentage
50%
Reason
Enhance financial position, and support growth plans
Bonus shares
One bonus share for every two existing shares
Method
Through capitalization of SAR 10 mln from the retained earnings.
Record Date
Shareholders of record on the extraordinary general meeting (EGM) date (which will be set later) and those registered with Edaa on the second trading day following the general meeting.
Fractional shares, if any, will be compiled into one portfolio for all shareholders and sold at market price, with the proceeds distributed pro rata, within a period not exceeding 30 days.
The bonus issue is subject to the approval of the relevant authorities and the general meeting, the statement added.
