Equipment House approves capital increase to SAR 300 million by granting free shares

The Board of Directors of Scientific and Medical Equipment House Company announced the results of the Extraordinary general assembly second meeting, which included the approval of the increase in the company’s capital (the first meeting), held at (19:30) on Sunday, September 3, 2023, through modern technology means.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1- Approval on the recommendation of the board of directors on increase the company’s capital from SAR 200 million to SAR 300 million by granting free shares to the company’s shareholders, as follows:

• The total amount of the increase: SAR 100 million.
• Capital before the increase: SAR 200 million.
• Capital after the increase: SAR 300 million.
• Increase ratio: 50%
• Number of shares granted: one (1) share for every two (2) Shares owned.
• Number of shares before the increase: 20 twenty million ordinary shares with a fully paid par value of SAR 10 per share.
• Number of shares after the increase: SAR 30 million ordinary shares with a fully paid par value of SAR 10 per share.
• The company’s capital will be increased by capitalizing a total amount of SAR 100 million from the retained earnings item.
• The company aims to increase the capital to enhance the strategic growth of the company and to emphasize the company’s financial solvency and the strength of its financial position.
• If the item is approved, the date of eligibility for shareholders owning shares will be by the end of the trading day of the Extraordinary General Assembly of the company and registered in the register of shareholders of the company with the Securities Depository Centre Company (Edaa) at the end of the second trading day following the date of the Extraordinary General Assembly.
• If there are shares fractures granted, the fractures will be collected in one portfolio for all shareholders and sold at market price, then their value will be distributed to the shareholders entitled to the granted according to their stock within a period not exceeding (30) days from the date of determining the new shares due to each shareholder.
• Amending the seventh Article (7) of the company’s articles of association, related to the company’s capital and shares, to reflect the increase in capital.
• Amending the eighth Article (8) of the company’s articles of association, related to the subscription of shares, to reflect the increase in capital

2- Approval on the amendment of the company’s articles of association to harmonize it with the new company’s articles of association and rearranging the articles of the system and numbering them to comply with the proposed amendments