Logo ofAl Hassan Ghazi Ibrahim Shaker Co. (Shaker)
Al Hassan Ghazi Ibrahim Shaker Co.’s (Shaker)board of directors recommended, on Aug. 20, a 22% capital increase from SAR 555 million to SAR 677.1 million, according to a statement toTadawul. 
For more news on listed companies
The capital top up will be through the distribution of 11.1 million bonus shares, or 20% of the capital before the increase, via a 1-for-5 bonus share issue.
Additionally, the company plans to establish an employee stock program under a long-term incentive plan, allocating 1.11 million shares from the capital increase, representing 2% of the pre-increase capital.
Capital Increase Details
Current Capital
SAR 555 mln
Current Number of Shares
55.5 mln
Proposed Increase
22%
Method
Capitalizing SAR 122.1 mln from retained earnings balance
Bonus Shares
11.1 mln (1-for-5 bonus share issue, or 20% of capital)
Treasury Shares
1.11 mln (2% of capital)
New Capital
SAR 677.1 mln
New Number of Shares
67.71 mln
Reason
To support the company’s future plans
Record Date
Shareholders of record and 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.
Logo ofAl Hassan Ghazi Ibrahim Shaker Co. (Shaker)
Al Hassan Ghazi Ibrahim Shaker Co.’s (Shaker)board of directors recommended, on Aug. 20, a 22% capital increase from SAR 555 million to SAR 677.1 million, according to a statement toTadawul.
For more news on listed companies
The capital top up will be through the distribution of 11.1 million bonus shares, or 20% of the capital before the increase, via a 1-for-5 bonus share issue.
Additionally, the company plans to establish an employee stock program under a long-term incentive plan, allocating 1.11 million shares from the capital increase, representing 2% of the pre-increase capital.
Capital Increase Details
Current Capital
SAR 555 mln
Current Number of Shares
55.5 mln
Proposed Increase
22%
Method
Capitalizing SAR 122.1 mln from retained earnings balance
Bonus Shares
11.1 mln (1-for-5 bonus share issue, or 20% of capital)
Treasury Shares
1.11 mln (2% of capital)
New Capital
SAR 677.1 mln
New Number of Shares
67.71 mln
Reason
To support the company’s future plans
Record Date
Shareholders of record and 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.
