Logo ofBalsm Alofoq Medical Co.
Balsm Alofoq Medical Co.‘s board of directors recommended on Oct. 21 a 100% capital increase from SAR 12.5 million to SAR 25 million, through a bonus share distribution. 
Capital Increase Highlights
Current Capital
SAR 12.50 mln
Number of Shares
1.25 mln
New Capital
SAR 25 mln
New Number of Shares
2.50 mln
Percentage of Increase
100% (1-for-1)
Reason
Strengthen the company’s strategic growth plan and future expansion needs well as reaffirm its financial solvency and financial position
Method
Capitalizing SAR 10.15 mln from issue premium balance and SAR 2.35 mln from retain earnings
Record Date
Shareholders of record registered with Edaa by the end of second trading day after the record date
Fractional shares, if any, will be collected in a single portfolio to be sold at market price. The proceeds will then be distributed among eligible shareholders pro rata within 30 days maximum from the date of determining each shareholder’s eligible shares.
The bonus issue is pending the approval of the competent authorities and the extraordinary general meeting.
Logo ofBalsm Alofoq Medical Co.
Balsm Alofoq Medical Co.‘s board of directors recommended on Oct. 21 a 100% capital increase from SAR 12.5 million to SAR 25 million, through a bonus share distribution.
Capital Increase Highlights
Current Capital
SAR 12.50 mln
Number of Shares
1.25 mln
New Capital
SAR 25 mln
New Number of Shares
2.50 mln
Percentage of Increase
100% (1-for-1)
Reason
Strengthen the company’s strategic growth plan and future expansion needs well as reaffirm its financial solvency and financial position
Method
Capitalizing SAR 10.15 mln from issue premium balance and SAR 2.35 mln from retain earnings
Record Date
Shareholders of record registered with Edaa by the end of second trading day after the record date
Fractional shares, if any, will be collected in a single portfolio to be sold at market price. The proceeds will then be distributed among eligible shareholders pro rata within 30 days maximum from the date of determining each shareholder’s eligible shares.
The bonus issue is pending the approval of the competent authorities and the extraordinary general meeting.
