Logo ofArabian Centres Co. (Cenomi Centers)
The Capital Market Authority (CMA) approved Arabian Centres Co. (Cenomi Centers) application to raise its capital from SAR 4.75 billion to SAR 5.18 billion, the market regulator said in a statement. 
The CMA said the planned capital hike will be carried out via a 1-for-12 bonus share distribution.
Eligibility for the bonus issue will be to shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
The capital increase will be funded by transferring SAR 426.6 million from retained earnings. Accordingly, the number of shares will rise from 475 million to 517.66 million, an increase of 42.66 million shares.
The CMA added that the company’s deciding extraordinary general meeting (EGM) should be held within six months from this approval, provided all regulatory requirements and applicable laws are satisfied.
Cenomi Centers’ board recommended last June increasing capital by 8.98% from SAR 4.75 billion to SAR 5.18 billion, according to Argaam’s data.
Capital Increase Details
Current Capital
SAR 4.75 bln
Number of Shares
475 mln
Percentage of Increase
9% (one bonus share for each 12 shares held)
New Capital
SAR 5.18 mln
Number of Shares
517.66 mln
Method
Capitalization of SAR 426.6 mln from retained earnings for issuing 39.58 mln bonus shares and allocating 3.08 mln shares to the proposed employee share program.
Reserves
Capitalization of SAR 426.6 mln from retained earnings.
Reasons
To support the company’s growth, strengthen its financial position and incentivize employees over the long term through the proposed employee share program.
Record Date
Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the record date.
Logo ofArabian Centres Co. (Cenomi Centers)
The Capital Market Authority (CMA) approved Arabian Centres Co. (Cenomi Centers) application to raise its capital from SAR 4.75 billion to SAR 5.18 billion, the market regulator said in a statement.
The CMA said the planned capital hike will be carried out via a 1-for-12 bonus share distribution.
Eligibility for the bonus issue will be to shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
The capital increase will be funded by transferring SAR 426.6 million from retained earnings. Accordingly, the number of shares will rise from 475 million to 517.66 million, an increase of 42.66 million shares.
The CMA added that the company’s deciding extraordinary general meeting (EGM) should be held within six months from this approval, provided all regulatory requirements and applicable laws are satisfied.
Cenomi Centers’ board recommended last June increasing capital by 8.98% from SAR 4.75 billion to SAR 5.18 billion, according to Argaam’s data.
Capital Increase Details
Current Capital
SAR 4.75 bln
Number of Shares
475 mln
Percentage of Increase
9% (one bonus share for each 12 shares held)
New Capital
SAR 5.18 mln
Number of Shares
517.66 mln
Method
Capitalization of SAR 426.6 mln from retained earnings for issuing 39.58 mln bonus shares and allocating 3.08 mln shares to the proposed employee share program.
Reserves
Capitalization of SAR 426.6 mln from retained earnings.
Reasons
To support the company’s growth, strengthen its financial position and incentivize employees over the long term through the proposed employee share program.
Record Date
Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the record date.
