Friday, 29 March 2024

Al-Jouf Mineral Water approves BOD recommendation to increase capital to SR 46.8 mln by granting bonus shares

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Al-Jouf Mineral Water Company announced on Wednesday the results of the Extraordinary General Assembly meeting (the first meeting), which was held at 19:00 on Tuesday, 24/01/2023 by means of modern technology.

Voting Results:

1- Approval of the Board of Directors’ recommendation to increase the company’s capital by granting bonus shares to the company’s shareholders according to the following:

اقرأ المزيد

A – The total amount of the increase: SAR15,625,000

B- The capital before the increase is SAR 31,250,000, and the capital after the increase becomes SAR 46,875,000, i.e. an increase of 50%.

C- The number of shares before the capital increase: 3,125,000 shares, and the number of shares after the increase becomes 4,687,500 shares.

D- This recommendation aims to increase the capital to support and strengthen the company’s future activities.

E- The rate of increase: (1) share for every (2) outstanding shares.

F- The increase will be made by capitalizing an amount of (15,625,000) riyals from the retained earnings.

G- Date of eligibility: If the item is approved, the eligibility date for the bonus shares will be for the company’s shareholders who own shares on the day of the Extraordinary General Assembly convening and are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the eligibility date.

H- In the event that there are fractional shares, the fractions will be collected in one portfolio and then sold in the market to all the shareholders, and its value will be distributed to the shareholders of the beneficiaries of the bonus, each according to his share within a period of 30 days from the date of completion of the allotment of the new shares.

I- Amending Article No. (7) of the company’s bylaws related to capital.

J- Amending Article No. (8) of the company’s bylaws related to subscription to shares.

On Tuesday 01/24/2023, the extraordinary general assembly of Al-Jouf Mineral Water Company agreed to increase the company’s capital by granting bonus shares. Accordingly, the fluctuation rate for the company’s shares was calculated based on the price of SAR 27.00 for today, Wednesday 01/25/2023, and the cancellation of existing orders. (Edaa) will also add the bonus shares in the shareholders’ portfolios before the start of trading on Sunday 01/29/2023.

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