BUPA Arabia BOD recommends 25% capital increase

The Board of Directors of Bupa Arabia for Cooperative Insurance Company (Bupa Arabia) has recommended to the Extraordinary General Shareholders Assembly an increase in the capital of the Company by 25%. This increase will be done through issuing bonus shares by the utilization of SAR300 Million of the Company’s existing retained income reserves by the issuing of 1 bonus share for every 4 shares held.

Capital before increase: SAR 1,200,000,000

Capital after increase: SAR 1,500,000,000

Percentage of Capital increase: 25%

Number of shares before Capital increase: 120000000

Number of shares after Capital increase: 150000000

This increase reflects Bupa Arabia’s desire to strengthen its capital base to be able to achieve further growth rates in the Company’s business and to support its future growth plans in the coming years.

The capital increase will be completed through the utilization of SAR300 Million of the Company’s existing retained income reserves.

The eligibility for these Bonus shares will be limited to the shareholders owning shares at the end of the day of the Extraordinary General Assembly Meeting (EGM) of the Company (which will be announced later) and who are registered in the shareholder’s register of the Company in the Securities Depository Center (Edaa) at the close of the second trading day after the date of the EGM meeting day that approves the increase of the capital.

In the case of any bonus shares having fractions these will be collected into one investment portfolio and will then be sold at market price within thirty days from the completion date of the allocation of the new shares.

Bupa Arabia wishes to draw the attention of the shareholders to the fact that this proposed increase in capital will only be initiated once all necessary approvals are received from all the required authorities, as well as from the shareholders in the EGM.