Knowledge Board Recommends 50% Capital Increase via Bonus Shares

Knowledge Network Computers Co. announced that its Board of Directors recommended a capital increase from SAR 35 million to SAR 52.5 million through the issuance of bonus shares.

The proposed hike will be carried out by issuing one bonus share for every two shares held, raising the number of shares from 3.5 million to 5.25 million. The capital increase, amounting to SAR 17.5 million, will be funded from retained earnings.

The company stated that the step aligns with its strategic growth objectives, expansion plans, and efforts to enhance financial solvency and market position.

Eligibility for bonus shares is limited to shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the record date.

Fractional shares, if any, will be pooled and sold, and the proceeds will be distributed within 30 days of allocation.