Sunday, 16 June 2024

CMA approves 2P’s capital increase to 300 million riyals through stock grant

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Capital Market Authority announced its approval of the request of Perfect Presentation Company to increase its capital from 150 riyals to 300 million riyals by granting a free share for every existing share owned by shareholders registered in the issuer’s shareholder register at the deposit center at the end of the second trading day following the due date, which will be determined. The company’s board of directors is dated later.

The value of the capital increase will be paid by transferring an amount of 150 million riyals from the “retained earnings” item, and thus the number of shares will increase from 150 million shares to 300 million shares, an increase of 150 million shares. Provided that the date of the extraordinary general assembly does not exceed 6 months from the date of this approval and that the company completes the relevant legal procedures and requirements.

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