ADES Holding’s jack-up rig
ADES Holding Co. shareholders approved on Oct. 28 the board recommendation to increase the company’s capital by 100% through a one-for-one bonus share issue by capitalizing SAR 1.13 billion from the share premium account. 
Capital Increase Details
Current capital
SAR 1.13 bln
No. of shares
1.13 bln
Capital after increase
SAR 2.26 bln
No. of shares after increase
2.26 bln
Nominal value
SAR 1
Increase percentage
100% (one bonus share for every share held)
Increase amount
SAR 1.13 bln
Source of capitalization
SAR 1.13 billion from the share premium account
Eligibility
Oct. 28 (Shareholders of record registered with Edaa by the end of the second trading day following the record date)
Reason for increase
To support the company’s long-term growth strategy by strengthening its capital base and shareholders’ equity and supporting future growth and expansion plans
Any fractional shares will be aggregated into a single portfolio and sold at market price. The proceeds will be distributed proportionately among eligible shareholders within 30 days of determining each shareholder’s entitlement to the new shares.
Shareholders will also vote on amendments to Articles 7 of the company’s Articles of Association, relating to capital.
Separately, Tadawul announced that ADES fluctuation limit today, Oct. 29, was calculated on SAR 8.66. Existing orders were cancelled.
The Securities Depository Center Co. (Edaa) will add the bonus shares to shareholders’ portfolios before the start of trading on Nov. 2.
ADES Holding’s jack-up rig
ADES Holding Co. shareholders approved on Oct. 28 the board recommendation to increase the company’s capital by 100% through a one-for-one bonus share issue by capitalizing SAR 1.13 billion from the share premium account.
Capital Increase Details
Current capital
SAR 1.13 bln
No. of shares
1.13 bln
Capital after increase
SAR 2.26 bln
No. of shares after increase
2.26 bln
Nominal value
SAR 1
Increase percentage
100% (one bonus share for every share held)
Increase amount
SAR 1.13 bln
Source of capitalization
SAR 1.13 billion from the share premium account
Eligibility
Oct. 28 (Shareholders of record registered with Edaa by the end of the second trading day following the record date)
Reason for increase
To support the company’s long-term growth strategy by strengthening its capital base and shareholders’ equity and supporting future growth and expansion plans
Any fractional shares will be aggregated into a single portfolio and sold at market price. The proceeds will be distributed proportionately among eligible shareholders within 30 days of determining each shareholder’s entitlement to the new shares.
Shareholders will also vote on amendments to Articles 7 of the company’s Articles of Association, relating to capital.
Separately, Tadawul announced that ADES fluctuation limit today, Oct. 29, was calculated on SAR 8.66. Existing orders were cancelled.
The Securities Depository Center Co. (Edaa) will add the bonus shares to shareholders’ portfolios before the start of trading on Nov. 2.
