Logo ofASG Plastic Factory Co.
ASG Plastic Factory Co. said its board of directors recommended on March 31 a 100% capital increase, through a one-for-one bonus share distribution. 
The capital hike will be financed through the capitalization of nearly SAR 23.90 million from issue premium and SAR 46.60 million from retained earnings.
Capital Increase Details
Current Capital
SAR 70.50 mln
Current Number of Shares
7.05 mln
Proposed Increase
100% (oneshareforevery one owned)
Method
Capitalization of SAR 70.50 mln, SAR 23.90 million from issue premium and SAR 46.60 million from retained earnings
New Capital
SAR 141 mln
New Number of Shares
14.1 mln
Reason
To support the company’s expansion plans and strengthen its financial position in line with its future aspirations, contributing to sustainable growth and maximizing shareholders’ equity
Record Date
Shareholders of record on the extraordinary general meeting (EGM) date and those registered with Edaa at the end of the second trading day after the EGM date that will be set later
Fractional shares, if any, will be compiled into a single portfolio for all shareholders, and will be sold at market price. Their value will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The bonus share distribution and capital increase are subject to obtaining the necessary approvals from the relevant regulatory authorities and the EGM, the statement added.
Logo ofASG Plastic Factory Co.
ASG Plastic Factory Co. said its board of directors recommended on March 31 a 100% capital increase, through a one-for-one bonus share distribution.
The capital hike will be financed through the capitalization of nearly SAR 23.90 million from issue premium and SAR 46.60 million from retained earnings.
Capital Increase Details
Current Capital
SAR 70.50 mln
Current Number of Shares
7.05 mln
Proposed Increase
100% (oneshareforevery one owned)
Method
Capitalization of SAR 70.50 mln, SAR 23.90 million from issue premium and SAR 46.60 million from retained earnings
New Capital
SAR 141 mln
New Number of Shares
14.1 mln
Reason
To support the company’s expansion plans and strengthen its financial position in line with its future aspirations, contributing to sustainable growth and maximizing shareholders’ equity
Record Date
Shareholders of record on the extraordinary general meeting (EGM) date and those registered with Edaa at the end of the second trading day after the EGM date that will be set later
Fractional shares, if any, will be compiled into a single portfolio for all shareholders, and will be sold at market price. Their value will be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The bonus share distribution and capital increase are subject to obtaining the necessary approvals from the relevant regulatory authorities and the EGM, the statement added.
