Logo of Al Hassan Ghazi Ibrahim Shaker Co.
Al Hassan Ghazi Ibrahim Shaker Co.’s shareholders approved a 15% capital increase via a 1-for-6.5 bonus share distribution, during the extraordinary general meeting (EGM) held on May 19, according to a statement to Tadawul. 
Capital Increase Details
Capital
SAR 482.33 mln
Number of Shares
48.23 mln
Percentage of Increase
15.06% (1-for-6.64)
New Capital
SAR 555 mln
Number of Shares
55 mln
Method
Capitalizing SAR 72.67 million from statutory reserve
Reasons
To support the financial position as well as future expansion plans
Record Date
May 19, 2024, shareholders of record and those registered with Edaa on the second trading day following the record date
Shareholders also endorsed transferring SAR 71.68 million from the statutory reserve, amounting to SAR 144.38 million as in the financial statements for the year ended Dec. 31, 2023, to the retained earnings balance. They also approved delegating the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2024.
The Saudi Exchange (Tadawul) announced that fluctuation limits on the stock will be based on a share price of SAR 27.20 today, May 20, and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investor portfolios on May 22.
Logo of Al Hassan Ghazi Ibrahim Shaker Co.
Al Hassan Ghazi Ibrahim Shaker Co.’s shareholders approved a 15% capital increase via a 1-for-6.5 bonus share distribution, during the extraordinary general meeting (EGM) held on May 19, according to a statement to Tadawul.
Capital Increase Details
Capital
SAR 482.33 mln
Number of Shares
48.23 mln
Percentage of Increase
15.06% (1-for-6.64)
New Capital
SAR 555 mln
Number of Shares
55 mln
Method
Capitalizing SAR 72.67 million from statutory reserve
Reasons
To support the financial position as well as future expansion plans
Record Date
May 19, 2024, shareholders of record and those registered with Edaa on the second trading day following the record date
Shareholders also endorsed transferring SAR 71.68 million from the statutory reserve, amounting to SAR 144.38 million as in the financial statements for the year ended Dec. 31, 2023, to the retained earnings balance. They also approved delegating the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2024.
The Saudi Exchange (Tadawul) announced that fluctuation limits on the stock will be based on a share price of SAR 27.20 today, May 20, and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investor portfolios on May 22.
