AOL says the planned capital top-up will be implemented through a 1:2 bonus share distribution, by capitalizing SAR 45 mln from retained earnings
The Capital Market Authority (CMA) approved Academy of Learning Co.’s (AOL) capital increase request from SAR 90 million to SAR 135 million, according to a statement today, Nov. 2. 
The planned capital top-up will be implemented through the distribution of one bonus share for every two shares held by shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
The transaction will be financed by transferring SAR 45 million from the retained earnings account, hence raising the company’s share count from 90 million to 135 million shares.
The deciding extraordinary general meeting (EGM) must be held within six months maximum from the CMA’s approval date, provided the completion of all related regulatory requirements.
Last September, AOL’s board of directors recommended a 50% capital hike by capitalizing SAR 45 million from retained earnings, through a 1:2 bonus issue, according to Argaam data.
In June 2024, the company had previously approved a 50% capital increase from SAR 60 million to SAR 90 million via a bonus share distribution.
AOL says the planned capital top-up will be implemented through a 1:2 bonus share distribution, by capitalizing SAR 45 mln from retained earnings
The Capital Market Authority (CMA) approved Academy of Learning Co.’s (AOL) capital increase request from SAR 90 million to SAR 135 million, according to a statement today, Nov. 2.
The planned capital top-up will be implemented through the distribution of one bonus share for every two shares held by shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
The transaction will be financed by transferring SAR 45 million from the retained earnings account, hence raising the company’s share count from 90 million to 135 million shares.
The deciding extraordinary general meeting (EGM) must be held within six months maximum from the CMA’s approval date, provided the completion of all related regulatory requirements.
Last September, AOL’s board of directors recommended a 50% capital hike by capitalizing SAR 45 million from retained earnings, through a 1:2 bonus issue, according to Argaam data.
In June 2024, the company had previously approved a 50% capital increase from SAR 60 million to SAR 90 million via a bonus share distribution.
