Zahrat Al Waha BOD Recommends Capital Increase by Granting Bouns Shares

Zahrat Al-Waha Trading Company announced on Monday the board’s recommendation to the Extraordinary General Assembly for the capital increase by way of issuing bonus shares to the Company’s shareholders by capitalization from the retained earnings by way of granting one share for every two shares.

The capital before increase was             150,000,000 SR and after increase reached 225,000,000 SR

The Percentage of Capital increase is 50 % and the number of shares before Capital increase was 15000000 and the number of shares after Capital increase reached 22500000.

The number of shares granted per exiting share               is one share for every two shares.

Nature and value of reserves used in the capitalization will be capitalized SR75,000,000 from the retained earnings

Eligibility for the shareholders of the company registered with the Securities Depository Center (Tadawul) at the end of the second trading day following the day of the company’s general assembly, and the date of the general assembly will be announced later.

In the case of any bonus shares having fractions, these will be collected into one investment portfolio and will then be sold at a market price within 30 days from the date of determining the allocation of new shares due to each shareholder.

The grant is conditional on the approval of the official authorities and the extraordinary General Assembly on the increase in capital and the number of shares granted.