CMA Approves Shatirah House Capital Increase via Bonus Shares

The Capital Market Authority (CMA) has approved Shatirah House Restaurant Company’s request to increase its capital from 35 million Saudi riyals (SAR) to 56 million SAR. The increase will be achieved by issuing three bonus shares for every five existing shares.

The new shares will be issued to shareholders registered in the Security Depository Center’s registry at the close of the second trading day after a due date to be determined by the company’s board. The capital increase of 21 million SAR will be funded by transferring the amount from the company’s retained earnings account.

This will increase the company’s outstanding shares from 35 million to 56 million. An extraordinary general assembly will be held within six months of the approval date to satisfy all regulatory and legal requirements.