Logo ofRasan Information Technology Co.
Rasan Information Technology Co.‘s shareholders approved increasing the company’s capital from SAR 75.8 million to SAR 77.51 million by capitalizing part of the retained earnings, in an extraordinary general meeting (EGM) held on Feb. 6. 
The increase will be achieved through the issuance of 1.71 million ordinary shares to be allocated for the employee stock program (long-term incentive plan), according to a statement toTadawul.
Capital Increase Details
Current Capital
SAR 75.80 mln
Number of Shares
75.80 mln
Nominal Value
SAR 1
Increase Percentage
2.25%
Method
Capitalizing part of the retained earnings by issuing 1.71 million shares
New Capital
SAR 77.51 mln
New Number of Shares
77.51 mln
Reason
To establish the company’s employee shares program (long-term incentive plan)
The number of shares for shareholders will not be impacted following the capital increase. The ownership percentage will be negatively impacted by 2.25% due to the issuance of the new shares, the statement added.
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Meanwhile, shareholders approved the long-term incentive plan for employees, which can be extended by three to five years. It will be funded with a maximum of 1.7 million shares.
Shareholders also authorized the board of directors to manage the plan and link its mechanism with the performance, and make the required amendments when necessary.
Meanwhile,Tadawulannounced the fluctuation limit for Rasan’s stock will be calculated based on a price of SAR 89.30 today, Feb. 9. All outstanding orders will be canceled.
According to data compiled byArgaam, Rasan announced in October 2024 its board of directors recommendation to increase the company’s capital from SAR 75.8 million to SAR 77.51 million by capitalizing part of the retained earnings.
Logo ofRasan Information Technology Co.
Rasan Information Technology Co.‘s shareholders approved increasing the company’s capital from SAR 75.8 million to SAR 77.51 million by capitalizing part of the retained earnings, in an extraordinary general meeting (EGM) held on Feb. 6.
The increase will be achieved through the issuance of 1.71 million ordinary shares to be allocated for the employee stock program (long-term incentive plan), according to a statement toTadawul.
Capital Increase Details
Current Capital
SAR 75.80 mln
Number of Shares
75.80 mln
Nominal Value
SAR 1
Increase Percentage
2.25%
Method
Capitalizing part of the retained earnings by issuing 1.71 million shares
New Capital
SAR 77.51 mln
New Number of Shares
77.51 mln
Reason
To establish the company’s employee shares program (long-term incentive plan)
The number of shares for shareholders will not be impacted following the capital increase. The ownership percentage will be negatively impacted by 2.25% due to the issuance of the new shares, the statement added.
For more news on listed companies
Meanwhile, shareholders approved the long-term incentive plan for employees, which can be extended by three to five years. It will be funded with a maximum of 1.7 million shares.
Shareholders also authorized the board of directors to manage the plan and link its mechanism with the performance, and make the required amendments when necessary.
Meanwhile,Tadawulannounced the fluctuation limit for Rasan’s stock will be calculated based on a price of SAR 89.30 today, Feb. 9. All outstanding orders will be canceled.
According to data compiled byArgaam, Rasan announced in October 2024 its board of directors recommendation to increase the company’s capital from SAR 75.8 million to SAR 77.51 million by capitalizing part of the retained earnings.
