Logo ofMulti Business Group Co.
Multi Business Group Co.’s board of directors recommended, on Feb. 12, a 200% capital increase through a 2-for-1 bonus share issue, according to a statement toTadawul. 
Capital Increase Details
Current Capital
SAR 15 mln
Current Number of Shares
15 mln
Proposed Increase
200% (2 shares for every 1 owned)
New Capital
SAR 45 mln
New Number of Shares
45 mln
Reason
to support the company’s growth strategy, enhance its capital base, and strengthen its financial position to execute ongoing and future projects, thereby contributing to enabling the company to align its financial structure with growth and expansion plans and maximize returns on shareholders’ equity
Method
Capitalizing SAR 30 mln from from the share premium balance
Record Date
Shareholders of record on day of extraordinary general meeting (EGM) that approves the capital hike and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
Fractional shares, if any, will be compiled into a single portfolio for all shareholders,and will besold atmarket price. Their valuewill bedistributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase, issuance of bonus shares, and treasury shares are subject to obtaining the necessary approvals from the relevant regulatory authorities and the company’s EGM, the statement added.
Logo ofMulti Business Group Co.
Multi Business Group Co.’s board of directors recommended, on Feb. 12, a 200% capital increase through a 2-for-1 bonus share issue, according to a statement toTadawul.
Capital Increase Details
Current Capital
SAR 15 mln
Current Number of Shares
15 mln
Proposed Increase
200% (2 shares for every 1 owned)
New Capital
SAR 45 mln
New Number of Shares
45 mln
Reason
to support the company’s growth strategy, enhance its capital base, and strengthen its financial position to execute ongoing and future projects, thereby contributing to enabling the company to align its financial structure with growth and expansion plans and maximize returns on shareholders’ equity
Method
Capitalizing SAR 30 mln from from the share premium balance
Record Date
Shareholders of record on day of extraordinary general meeting (EGM) that approves the capital hike and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date
Fractional shares, if any, will be compiled into a single portfolio for all shareholders,and will besold atmarket price. Their valuewill bedistributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase, issuance of bonus shares, and treasury shares are subject to obtaining the necessary approvals from the relevant regulatory authorities and the company’s EGM, the statement added.
