Al Naqool sets July 27 EGM to vote on 100% bonus share issue
Shareholders of Mohammed Hasan AlNaqool Sons Co.will vote on a board recommendation to increase the company’s capital by 100% through a one-for-one bonus share issue during an extraordinary general meeting (EGM) on July 27. 
Details
Current capital
SAR 29 mln
Current No. of shares
2.9 mln
Capital after increase
SAR 58 mln
No. of shares after increase
5.8 mln
Increase percentage
100% (1 bonus share for every share held)
Purpose
To support the company’s strategic growth plan, meet future expansion needs, and strengthen its financial position
Funding method
By capitalizing SAR 29 million from retained earnings
Record date
July 27 (Shareholders of record registered with Edaa by the end of the second trading day following the record date)
Al Naqool said in a statement on Tadawul that any fractional shares resulting from the bonus issue will be aggregated into a single portfolio for all shareholders, sold at market price, and the proceeds distributed to eligible shareholders in proportion to their holdings within 30 days of the allocation of the new shares.
Shareholders will also vote on amendments to Article 8 of the company’s bylaws relating to share capital and Article 9 relating to share subscriptions.
Al Naqool sets July 27 EGM to vote on 100% bonus share issue
Shareholders of Mohammed Hasan AlNaqool Sons Co.will vote on a board recommendation to increase the company’s capital by 100% through a one-for-one bonus share issue during an extraordinary general meeting (EGM) on July 27.
Details
Current capital
SAR 29 mln
Current No. of shares
2.9 mln
Capital after increase
SAR 58 mln
No. of shares after increase
5.8 mln
Increase percentage
100% (1 bonus share for every share held)
Purpose
To support the company’s strategic growth plan, meet future expansion needs, and strengthen its financial position
Funding method
By capitalizing SAR 29 million from retained earnings
Record date
July 27 (Shareholders of record registered with Edaa by the end of the second trading day following the record date)
Al Naqool said in a statement on Tadawul that any fractional shares resulting from the bonus issue will be aggregated into a single portfolio for all shareholders, sold at market price, and the proceeds distributed to eligible shareholders in proportion to their holdings within 30 days of the allocation of the new shares.
Shareholders will also vote on amendments to Article 8 of the company’s bylaws relating to share capital and Article 9 relating to share subscriptions.
