ADES aims to strengthen its capital base and support its long-term growth strategy.
ADES Holding Co. has obtained the approval of the Capital Market Authority (CMA) to increase capital from SAR 1.12 billion to SAR 2.25 billion, according to a statement to Tadawul. 
The increase will be implemented through issuing one bonus share for every existing share 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 by the company’s board of directors later.
The capital increase will be financed by transferring SAR 1.13 billion from the issue premium. Accordingly, share capital will increase from 1.129 billion to 2.258 billion.
The extraordinary general meeting (EGM) should be held within six months of the approval date and that the company should fulfill all relevant regulatory requirements.
In June, ADES board recommended in June a 100% capital increase through the issuance of one bonus share for every existing share, by capitalizing SAR 1.13 billion from the share premium account.
Details of Capital Increase
Current Capital
SAR 1.129 bln
Number of Shares
1.129 bln
New Capital
SAR 2.258 bln
Number of Shares
2.258 bln
Stock par value
SAR 1/share
The increase percentage
100%
Nature and Value of Reserves to Be Used for Capitalization
To be financed by transferring SAR 1.13 billion from the issue premium
Record Date
Shareholders of record, who are registered with Edaa at the end of the second trading day following the record date, which will be determined later.
Reasons
To support long-term growth strategy, strengthen capital base as well as shareholders’ equity structure. This reflects the company’s strong financial position, while enhancing returns, and expansion plans.
ADES aims to strengthen its capital base and support its long-term growth strategy.
ADES Holding Co. has obtained the approval of the Capital Market Authority (CMA) to increase capital from SAR 1.12 billion to SAR 2.25 billion, according to a statement to Tadawul.
The increase will be implemented through issuing one bonus share for every existing share 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 by the company’s board of directors later.
The capital increase will be financed by transferring SAR 1.13 billion from the issue premium. Accordingly, share capital will increase from 1.129 billion to 2.258 billion.
The extraordinary general meeting (EGM) should be held within six months of the approval date and that the company should fulfill all relevant regulatory requirements.
In June, ADES board recommended in June a 100% capital increase through the issuance of one bonus share for every existing share, by capitalizing SAR 1.13 billion from the share premium account.
Details of Capital Increase
Current Capital
SAR 1.129 bln
Number of Shares
1.129 bln
New Capital
SAR 2.258 bln
Number of Shares
2.258 bln
Stock par value
SAR 1/share
The increase percentage
100%
Nature and Value of Reserves to Be Used for Capitalization
To be financed by transferring SAR 1.13 billion from the issue premium
Record Date
Shareholders of record, who are registered with Edaa at the end of the second trading day following the record date, which will be determined later.
Reasons
To support long-term growth strategy, strengthen capital base as well as shareholders’ equity structure. This reflects the company’s strong financial position, while enhancing returns, and expansion plans.
