ADES Holding’s jack-up rig
ADES Holding Co. said its board of directors recommended on June 8 a 100% capital increase through a 1-for-1 bonus share issue by capitalizing SAR 1.13 billion from the company’s share premium reserve, according to a statement to Tadawul. 
Capital Increase Details
Current Capital
SAR 1.13 bln
Current No. of Shares
1.13 bln
New Capital
SAR 2.26 bln
New No. of Shares
2.26 bln
Nominal Value
SAR 1
Proposed Increase
100% (1 bonus share for every 1 owned)
Method
The capital increase will be financed through the capitalization of SAR 1.13 billion from the company’s share premium reserve.
Eligibility
Shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day after the extraordinary general meeting (EGM) to be determined later.
Reason
To support the company’s long-term growth strategy by strengthening its capital base and shareholders’ equity structure, reflecting the company’s strong financial position, enhancing shareholder returns, and supporting its future growth and expansion plans.
Any fractional shares will be compiled into a single portfolio for all shareholders and sold at themarket price. Their valuewill bedistributed to eligible shareholders pro rata within a period not exceeding 30 days.
The issuance of bonus shares is subject to obtaining the necessary approvals from the relevant regulatory authorities and the company’s shareholders, the statement added.
ADES Holding’s jack-up rig
ADES Holding Co. said its board of directors recommended on June 8 a 100% capital increase through a 1-for-1 bonus share issue by capitalizing SAR 1.13 billion from the company’s share premium reserve, according to a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 1.13 bln
Current No. of Shares
1.13 bln
New Capital
SAR 2.26 bln
New No. of Shares
2.26 bln
Nominal Value
SAR 1
Proposed Increase
100% (1 bonus share for every 1 owned)
Method
The capital increase will be financed through the capitalization of SAR 1.13 billion from the company’s share premium reserve.
Eligibility
Shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day after the extraordinary general meeting (EGM) to be determined later.
Reason
To support the company’s long-term growth strategy by strengthening its capital base and shareholders’ equity structure, reflecting the company’s strong financial position, enhancing shareholder returns, and supporting its future growth and expansion plans.
Any fractional shares will be compiled into a single portfolio for all shareholders and sold at themarket price. Their valuewill bedistributed to eligible shareholders pro rata within a period not exceeding 30 days.
The issuance of bonus shares is subject to obtaining the necessary approvals from the relevant regulatory authorities and the company’s shareholders, the statement added.
