A branch of Bank Albilad
Bank Albilad’s board of directors recommended,Feb. 6, a 20% capital top-up from SAR 12.5 billion to SAR 15 billion, through distributing one bonus share for every five shares held,as follows: 
Capital Increase Details
Current Capital
SAR 12.5 bln
Number of Shares
1.25 bln
Percentage of Increase
20%
New Capital
SAR 15 bln
New Number of Shares
1.5 bln
Method
1-for-5 bonus share distribution
Capitalization
Capitalizing SAR 1.5 bln from retained earnings and SAR 1 bln from statutory reserve
Record Date
Shareholders of record and those registered with Edaa on the second trading day following the extraordinary general meeting (EGM), the date for which will be determined later
Reason
To enhance the bank’s financial solvency and retain its resources in operational activities.
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at the market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum, the bank said in a statement to Tadawul.
The decision, which received the Saudi Central Bank’s (SAMA) no-objection, is conditional to approvals from competent authorities and shareholders.
A branch of Bank Albilad
Bank Albilad’s board of directors recommended,Feb. 6, a 20% capital top-up from SAR 12.5 billion to SAR 15 billion, through distributing one bonus share for every five shares held,as follows:
Capital Increase Details
Current Capital
SAR 12.5 bln
Number of Shares
1.25 bln
Percentage of Increase
20%
New Capital
SAR 15 bln
New Number of Shares
1.5 bln
Method
1-for-5 bonus share distribution
Capitalization
Capitalizing SAR 1.5 bln from retained earnings and SAR 1 bln from statutory reserve
Record Date
Shareholders of record and those registered with Edaa on the second trading day following the extraordinary general meeting (EGM), the date for which will be determined later
Reason
To enhance the bank’s financial solvency and retain its resources in operational activities.
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at the market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum, the bank said in a statement to Tadawul.
The decision, which received the Saudi Central Bank’s (SAMA) no-objection, is conditional to approvals from competent authorities and shareholders.
