Tadweeer’s proposed capital hike is set to boost its capital base, hence supporting its future plans, strategies, and expansions
National Environmental Recycling Co.’s (Tadweeer) board of directors recommended increasing capital by 100% via a 1:1 bonus issue, according to a statement to Tadawul. 
Capital Increase Details
Current Capital
SAR 116.16 mln
Number of Shares
116.16 mln
Percentage Increase
100% (1:1 bonus issue)
New Capital
SAR 232.32 mln
New Number of Shares
232.32 mln
Method
Capitalizing SAR 67.84 mln from the share premium balance, SAR 47.74 mln from the retained earnings balance, and SAR 577,850 from the statutory reserve balance
Reason
To strengthen Tadweeer capital base, which will support future plans, strategies, and expansions
Record Date
To shareholders registered with Edaa at the end of the second working day after the record date
Fractional shares, if any, will be collected in one portfolio for all shareholders and sold at the market price, before being distributed among the eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each one.
For more news on listed companies
The planned capital increase is subject to the approval of the competent authorities as well as the company’s extraordinary general assembly.
Tadweeer’s proposed capital hike is set to boost its capital base, hence supporting its future plans, strategies, and expansions
National Environmental Recycling Co.’s (Tadweeer) board of directors recommended increasing capital by 100% via a 1:1 bonus issue, according to a statement to Tadawul.
Capital Increase Details
Current Capital
SAR 116.16 mln
Number of Shares
116.16 mln
Percentage Increase
100% (1:1 bonus issue)
New Capital
SAR 232.32 mln
New Number of Shares
232.32 mln
Method
Capitalizing SAR 67.84 mln from the share premium balance, SAR 47.74 mln from the retained earnings balance, and SAR 577,850 from the statutory reserve balance
Reason
To strengthen Tadweeer capital base, which will support future plans, strategies, and expansions
Record Date
To shareholders registered with Edaa at the end of the second working day after the record date
Fractional shares, if any, will be collected in one portfolio for all shareholders and sold at the market price, before being distributed among the eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each one.
For more news on listed companies
The planned capital increase is subject to the approval of the competent authorities as well as the company’s extraordinary general assembly.
