Logo ofNaseej for Technology Co.
Naseej for Technology Co.’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, according to a statement to Tadawul. 
Capital Increase Details
Current Capital
SAR 50.00 mln
Number of Shares
5.00 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 employee stock program 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
In the event that there are stock fractions, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed among the eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each shareholder, according to the company’s statement.
The proposed distribution remains subject to obtaining the approval of the competent regulatory authority and the company’s extraordinary general assembly.
Logo ofNaseej for Technology Co.
Naseej for Technology Co.’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, according to a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 50.00 mln
Number of Shares
5.00 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 employee stock program 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
In the event that there are stock fractions, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed among the eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each shareholder, according to the company’s statement.
The proposed distribution remains subject to obtaining the approval of the competent regulatory authority and the company’s extraordinary general assembly.
