Logo ofKnowledgeNet Co.
The Capital Market Authority (CMA) issued its resolution approving KnowledgeNet Co.’s request to increase its capital from SAR 35 million to SAR 52.5 million, through distributing bonus shares at one share per each two held shares. 
The capital hike will be funded by capitalizing SAR 17.5 million from the retained earnings account and issuing one bonus share forevery two shares held.
The company must convene an extraordinary general meeting (EGM) within six months from the date of the approval and comply with all regulatory requirements and applicable laws.
According to data compiled by Argaam, KnowledgeNet’s board recommended in June a 50% capital increase through a bonus issue.
Capital Increase Details
Current Capital
SAR 35 mln
Number of Shares
3.5 mln
Percentage of Increase
50%
Method
Capitalizing SAR 17.5 mln from retained earnings, andissuing one bonus share for every two sharesheld
New Capital
SAR 52.5 mln
Number of Shares
5.25 mln
Reason
To enhance the strategic growth plan, address future expansion needs and aspirations, and reaffirm the company’s financial solvency and strong financial position.
Logo ofKnowledgeNet Co.
The Capital Market Authority (CMA) issued its resolution approving KnowledgeNet Co.’s request to increase its capital from SAR 35 million to SAR 52.5 million, through distributing bonus shares at one share per each two held shares.
The capital hike will be funded by capitalizing SAR 17.5 million from the retained earnings account and issuing one bonus share forevery two shares held.
The company must convene an extraordinary general meeting (EGM) within six months from the date of the approval and comply with all regulatory requirements and applicable laws.
According to data compiled by Argaam, KnowledgeNet’s board recommended in June a 50% capital increase through a bonus issue.
Capital Increase Details
Current Capital
SAR 35 mln
Number of Shares
3.5 mln
Percentage of Increase
50%
Method
Capitalizing SAR 17.5 mln from retained earnings, andissuing one bonus share for every two sharesheld
New Capital
SAR 52.5 mln
Number of Shares
5.25 mln
Reason
To enhance the strategic growth plan, address future expansion needs and aspirations, and reaffirm the company’s financial solvency and strong financial position.
