Logo ofWSM for Information Technology Co.
WSM for Information Technology Co.’s shareholders approved, in a meeting held on April 17, a board of directors recommendation of a 10% capital increase, according to a statement toTadawul. 
This increase will be financed from the company’s retained earnings and allocated to the employee shares program, the statement added.
Capital Increase Details
Current Capital
SAR 19.50 mln
Number of Shares
1.95 mln
New Capital
SAR 21.45 mln
Number of Shares
2.14 mln
Percentage of Increase
10%
Purpose
To set up employee shares program
Method
Capitalizing SAR 1.95 million from the retained earnings by issuing 195,000 new shares.
The capital increase will be allocated to the employee stock ownership plan (ESOP) to enhance employee loyalty. This program also aims to attract top talents and achieve solid growth rates in line with the company’s expansion strategy.
For more news on listed companies
The number of shareholders’ shares will not be affected by the capital increase, but shareholders’ ownership percentage in the company’s shares will decrease by 9.09% due to new shares.
Meanwhile, shareholders approved the board recommendation to transfer the balance of the company’s statutory reserve, which amounted to SAR 1.49 million in financial statements for six months ending June 30, 2024, to the retained earnings balance.
Logo ofWSM for Information Technology Co.
WSM for Information Technology Co.’s shareholders approved, in a meeting held on April 17, a board of directors recommendation of a 10% capital increase, according to a statement toTadawul.
This increase will be financed from the company’s retained earnings and allocated to the employee shares program, the statement added.
Capital Increase Details
Current Capital
SAR 19.50 mln
Number of Shares
1.95 mln
New Capital
SAR 21.45 mln
Number of Shares
2.14 mln
Percentage of Increase
10%
Purpose
To set up employee shares program
Method
Capitalizing SAR 1.95 million from the retained earnings by issuing 195,000 new shares.
The capital increase will be allocated to the employee stock ownership plan (ESOP) to enhance employee loyalty. This program also aims to attract top talents and achieve solid growth rates in line with the company’s expansion strategy.
For more news on listed companies
The number of shareholders’ shares will not be affected by the capital increase, but shareholders’ ownership percentage in the company’s shares will decrease by 9.09% due to new shares.
Meanwhile, shareholders approved the board recommendation to transfer the balance of the company’s statutory reserve, which amounted to SAR 1.49 million in financial statements for six months ending June 30, 2024, to the retained earnings balance.
