Logo ofAl-Modawat Specialized Medical Co.
Al-Modawat Specialized Medical Co.’s board of directors recommended on April 27 a capital increase through a 2-for-1 bonus share distribution, by capitalizing SAR 47.5 million from the issuance premium balance, according to a statement to Tadawul. 
Capital Increase Details
Current Capital
SAR 23.75 mln
Number of Shares
23.75 mln
New Capital
SAR 71.25 mln
New Number of Shares
71.25 mln
Proposed Increase
200% (2-for-1 bonus share distribution)
Reason
Keeping up with the company’s growth, expanding operations, reaffirming its financial solvency and the strength of its financial position.
Method
Capitalizing SAR 47.5 mln from issuance premium balance
Record Date
Shareholders of record and registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
Fractional shares, if any, will be compiled in one portfolio for shareholders and will be offered at the market price. The proceeds will then be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase and the bonus issue are subject to the approval of the official authorities and company shareholders.
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Logo ofAl-Modawat Specialized Medical Co.
Al-Modawat Specialized Medical Co.’s board of directors recommended on April 27 a capital increase through a 2-for-1 bonus share distribution, by capitalizing SAR 47.5 million from the issuance premium balance, according to a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 23.75 mln
Number of Shares
23.75 mln
New Capital
SAR 71.25 mln
New Number of Shares
71.25 mln
Proposed Increase
200% (2-for-1 bonus share distribution)
Reason
Keeping up with the company’s growth, expanding operations, reaffirming its financial solvency and the strength of its financial position.
Method
Capitalizing SAR 47.5 mln from issuance premium balance
Record Date
Shareholders of record and registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
Fractional shares, if any, will be compiled in one portfolio for shareholders and will be offered at the market price. The proceeds will then be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase and the bonus issue are subject to the approval of the official authorities and company shareholders.
