Logo ofArabian Plastic Industrial Co. (APICO)
The Capital Market Authority (CMA) approved today, July 9,Arabian Plastic Industrial Co.’s (APICO) request to increase its capital from SAR 75 million to SAR 102 million through a 1:3 bonus issue. 
In a statement, the authority said shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the eligibility date, which will be determined later by the company’s board of directors, will be entitled to the bonus shares.
The planned capital top-up will be financed by transferring SAR 26.6 million from retained earnings and SAR 386,000 from additional capital, raising the number of shares from 7.5 million to 10.2 million in total.
The company’s deciding extraordinary general meeting (EGM) shall be held within six months from this approval date, provided satisfying all regulatory requirements and applicable laws, the CMA said.
As per Argaam’s data, the company’s board of directors recommended on March 15 increasing capital by 36%, from SAR 75 million to SAR 102 million, through the distribution of bonus shares.
Capital Increase Details
Current Capital
SAR 75 mln
Current No. of Shares
7.5 mln
Increase Percentage
36%
Method
Capitalization of SAR 27 million from retained earnings and additional capital account
Bonus Shares
1 bonus share for every 3 shares held
Treasury Shares
200,000 shares (1.96% of post-increase capital) to be used for long-term employee incentive programs or other strategic purposes approved by the board
New Capital
SAR 102 mln
New No. of Shares
10.2 mln
Reason
Support the company’s expansion plans, strengthen its financial position, and support long-term employee incentive programs to attract, retain, and motivate talent
RecordDate
Shareholders on therecord date, registered with Edaa at the end of the second trading day following the record date
Logo ofArabian Plastic Industrial Co. (APICO)
The Capital Market Authority (CMA) approved today, July 9,Arabian Plastic Industrial Co.’s (APICO) request to increase its capital from SAR 75 million to SAR 102 million through a 1:3 bonus issue.
In a statement, the authority said shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the eligibility date, which will be determined later by the company’s board of directors, will be entitled to the bonus shares.
The planned capital top-up will be financed by transferring SAR 26.6 million from retained earnings and SAR 386,000 from additional capital, raising the number of shares from 7.5 million to 10.2 million in total.
The company’s deciding extraordinary general meeting (EGM) shall be held within six months from this approval date, provided satisfying all regulatory requirements and applicable laws, the CMA said.
As per Argaam’s data, the company’s board of directors recommended on March 15 increasing capital by 36%, from SAR 75 million to SAR 102 million, through the distribution of bonus shares.
Capital Increase Details
Current Capital
SAR 75 mln
Current No. of Shares
7.5 mln
Increase Percentage
36%
Method
Capitalization of SAR 27 million from retained earnings and additional capital account
Bonus Shares
1 bonus share for every 3 shares held
Treasury Shares
200,000 shares (1.96% of post-increase capital) to be used for long-term employee incentive programs or other strategic purposes approved by the board
New Capital
SAR 102 mln
New No. of Shares
10.2 mln
Reason
Support the company’s expansion plans, strengthen its financial position, and support long-term employee incentive programs to attract, retain, and motivate talent
RecordDate
Shareholders on therecord date, registered with Edaa at the end of the second trading day following the record date
