Retal agrees to increase capital to SAR 500 mln by capitalizing SAR 100 mln from retained earnings

Retal Urban Development Company announced on Sunday to its shareholders the results of the Extraordinary General Assembly meeting, which included approving the increase of the Company’s Capital according to:

– Approval of increasing the capital of Retal Urban Development Company, based on the following: –

– The total amount of the increase is SAR 100 million.

– The capital before the increase is SAR 400 million, and the capital after the increases becomes SAR 500 million, with an increase of 25%.

– The number of shares before the increase is 400 million shares, and the number of shares after the increase will be 500 shares.

– The company aims, through the capital increase, to enhance its strategic growth plan in its assets, expand its projects, and confirm its financial adequacy and the strength of its financial position.

– The increase will be made by capitalizing an amount of SAR 100 million from the retained earnings account.