Logo ofSaudi Networkers Services (SNS)
Saudi Networkers Services (SNS) received the shareholders’ go-ahead for its planned 25% capital increase, through a 1:4 bonus issue by capitalizing SAR 15 million from retained earnings. 
The approval came during the extraordinary general meeting (EGM) held on March 8, the company said in aTadawulstatement.
Capital Increase Details
Current Capital
SAR 60 mln
Number of Shares
6mln
New Capital
SAR 75 mln
New Number of Shares
7.5 mln
Percentage of Increase
25%
Reason for Increase
Support the company’s strategic growth plan and expansion needs, as well as reaffirm its financial solvency and position
Number of Distributed Shares
Onebonusshare to each shareholder who owns four shares
Method
Capitalizing SAR 15mlnfrom retained earnings
In the case of fraction bonus shares, these will be collected into a single investment portfolio and sold at market price within 30 days from the date of allotment of new shares to each shareholder is determined.
Logo ofSaudi Networkers Services (SNS)
Saudi Networkers Services (SNS) received the shareholders’ go-ahead for its planned 25% capital increase, through a 1:4 bonus issue by capitalizing SAR 15 million from retained earnings.
The approval came during the extraordinary general meeting (EGM) held on March 8, the company said in aTadawulstatement.
Capital Increase Details
Current Capital
SAR 60 mln
Number of Shares
6mln
New Capital
SAR 75 mln
New Number of Shares
7.5 mln
Percentage of Increase
25%
Reason for Increase
Support the company’s strategic growth plan and expansion needs, as well as reaffirm its financial solvency and position
Number of Distributed Shares
Onebonusshare to each shareholder who owns four shares
Method
Capitalizing SAR 15mlnfrom retained earnings
In the case of fraction bonus shares, these will be collected into a single investment portfolio and sold at market price within 30 days from the date of allotment of new shares to each shareholder is determined.
