Logo ofNaseej for Technology Co.
The Capital Market Authority (CMA) approvedNaseej for Technology Co.’s application to raise its capital from SAR 50 million to SAR 77.25 million, the market regulator said in a statement. 
The CMA said the planned capital hike will be carried out via a 1-for-2 bonus share distribution.
Eligibility for the bonus issue will be for 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 nearly SAR 27.25 million from retained earnings. Accordingly, the number of shares will rise from 5 million to 7.73 million.
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.
According to Argaam’s data, the company’s board of directors recommended, on Nov. 4, a 54.5% capital increase from SAR 50 million to SAR 77.25 million via a bonus share distribution. The company will allocate 225,000 new shares as treasury shares for the employee incentive stock plan (ESIP) under the long-term incentive plan.
Capital Increase Details
Current Capital
SAR 50 mln
Number of Shares
5 mln shares
Percentage of Increase
54.50% (one-for-two shares)
New Capital
SAR 77.25 mln
New Number of Shares
7.73 mln
Method
One share will be granted for every two shares held. A total of 225,000 shares will be allocated as part of the new shares resulting from the capital increase to be held as treasury shares for the ESIP under the long-term incentive plan
Nature and Value of Reserve
Capitalizing SAR 27.25 million from retained earnings.
Record date
Shareholders owning the shares on record date in the register of shareholders at Edaa by the end of second trading day after record date.
Reason
To support the company’s growth of its strategy, strengthen the capital base and strengthen its financial position to implement its future plans and activities thereby enabling the company to expand and maximize shareholder returns
Logo ofNaseej for Technology Co.
The Capital Market Authority (CMA) approvedNaseej for Technology Co.’s application to raise its capital from SAR 50 million to SAR 77.25 million, the market regulator said in a statement.
The CMA said the planned capital hike will be carried out via a 1-for-2 bonus share distribution.
Eligibility for the bonus issue will be for 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 nearly SAR 27.25 million from retained earnings. Accordingly, the number of shares will rise from 5 million to 7.73 million.
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.
According to Argaam’s data, the company’s board of directors recommended, on Nov. 4, a 54.5% capital increase from SAR 50 million to SAR 77.25 million via a bonus share distribution. The company will allocate 225,000 new shares as treasury shares for the employee incentive stock plan (ESIP) under the long-term incentive plan.
Capital Increase Details
Current Capital
SAR 50 mln
Number of Shares
5 mln shares
Percentage of Increase
54.50% (one-for-two shares)
New Capital
SAR 77.25 mln
New Number of Shares
7.73 mln
Method
One share will be granted for every two shares held. A total of 225,000 shares will be allocated as part of the new shares resulting from the capital increase to be held as treasury shares for the ESIP under the long-term incentive plan
Nature and Value of Reserve
Capitalizing SAR 27.25 million from retained earnings.
Record date
Shareholders owning the shares on record date in the register of shareholders at Edaa by the end of second trading day after record date.
Reason
To support the company’s growth of its strategy, strengthen the capital base and strengthen its financial position to implement its future plans and activities thereby enabling the company to expand and maximize shareholder returns
