Logo ofRasan Information Technology Co.
Rasan Information Technology Co.‘s board of directors recommended during an extraordinary general meeting (EGM) held on Oct. 6 increasing the company’s capital from SAR 75.8 million to SAR 77.51 million by capitalizing part of the retained earnings. 
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 to Tadawul.
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The recommendation is subject to the approval of the EGM, the date of which will be announced later after obtaining the necessary regulatory approvals.
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 port 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 be allocated for the employee stock program (long-term incentive plan).
Logo ofRasan Information Technology Co.
Rasan Information Technology Co.‘s board of directors recommended during an extraordinary general meeting (EGM) held on Oct. 6 increasing the company’s capital from SAR 75.8 million to SAR 77.51 million by capitalizing part of the retained earnings.
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 to Tadawul.
For more news on listed companies
The recommendation is subject to the approval of the EGM, the date of which will be announced later after obtaining the necessary regulatory approvals.
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 port 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 be allocated for the employee stock program (long-term incentive plan).
