Logo ofASG Plastic Factory Co.
The Capital Market Authority (CMA) granted today, June 29, ASG Plastic Factory Co. approval to increase its capital from SAR 70.5 million to SAR 141 million. 
In a statement, the authority said the proposed move will involve issuing one bonus share for every share held.
Eligible shareholders are those registered with the Security Depository Center (Edaa) by the end of the second trading day after the record date, which will be determined later by the board of directors.
The planned capital hike will be financed by transferring SAR 46.6 million from retained earnings and SAR 23.9 million from issue premium, increasing the number of shares from 7.05 million to 14.1 million.
The company’s deciding extraordinary general meeting (EGM) shall be held within six months from this approval date, provided satisfying all regulatory requirements and applicable laws, the CMA said.
According to Argaam’s data, ASG’s board of directors recommended on March 31 a 100% capital increase, through a one-for-one bonus share distribution.
Capital Increase Details
Current Capital
SAR 70.50 mln
Current Number of Shares
7.05 mln
Proposed Increase
100% (oneshareforevery one owned)
Method
Capitalization of SAR 70.50 mln, SAR 23.90 million from issue premium and SAR 46.60 million from retained earnings
New Capital
SAR 141 mln
New Number of Shares
14.1 mln
Reason
To support the company’s expansion plans and strengthen its financial position in line with its future aspirations, contributing to sustainable growth and maximizing shareholders’ equity
Record Date
Shareholders of record on the extraordinary general meeting (EGM) date and those registered with Edaa at the end of the second trading day after the EGM date that will be set later
Logo ofASG Plastic Factory Co.
The Capital Market Authority (CMA) granted today, June 29, ASG Plastic Factory Co. approval to increase its capital from SAR 70.5 million to SAR 141 million.
In a statement, the authority said the proposed move will involve issuing one bonus share for every share held.
Eligible shareholders are those registered with the Security Depository Center (Edaa) by the end of the second trading day after the record date, which will be determined later by the board of directors.
The planned capital hike will be financed by transferring SAR 46.6 million from retained earnings and SAR 23.9 million from issue premium, increasing the number of shares from 7.05 million to 14.1 million.
The company’s deciding extraordinary general meeting (EGM) shall be held within six months from this approval date, provided satisfying all regulatory requirements and applicable laws, the CMA said.
According to Argaam’s data, ASG’s board of directors recommended on March 31 a 100% capital increase, through a one-for-one bonus share distribution.
Capital Increase Details
Current Capital
SAR 70.50 mln
Current Number of Shares
7.05 mln
Proposed Increase
100% (oneshareforevery one owned)
Method
Capitalization of SAR 70.50 mln, SAR 23.90 million from issue premium and SAR 46.60 million from retained earnings
New Capital
SAR 141 mln
New Number of Shares
14.1 mln
Reason
To support the company’s expansion plans and strengthen its financial position in line with its future aspirations, contributing to sustainable growth and maximizing shareholders’ equity
Record Date
Shareholders of record on the extraordinary general meeting (EGM) date and those registered with Edaa at the end of the second trading day after the EGM date that will be set later
