Scientific & Medical Equip House Co. announces the issuance of the decision of the Board of Directors in its meeting held on Sunday, 22 Dhu al-Qi`dah 1444 AH corresponding 11 June 2023 AD to recommend to the Extraordinary General Assembly to increase the company’s capital by granting bonus shares to the company’s shareholders by capitalizing 100 million riyals of profits retained and award one share for every two shares owned.
Date of Board Meeting
22 Dhu al-Qi`dah 1444 AH corresponding 11 June 2023 AD
Capital before increase
200,000,000
Capital after increase
300,000,000
Percentage of Capital increase
50 %
Number of shares before Capital increase
20,000,000
Number of shares after Capital increase
30,000,000
Reasons for the increase
Promoting the strategic growth of the company and emphasizing the company's financial solvency and the strength of its financial position.
Number of Shares Granted per Exiting Share
One share for every two shares owned
Nature and Value of Reserves Used in the Capitalization
The increase will be by through capitalizing SAR 100,000,000 from the retained earnings.
Eligibility Date
Eligible Shareholders are Those Holding Shares in the Eligibility Date as per the Shareholders Registry at the Deposit Center at The End of The Second Working Day after Eligibility Date
Fractional Shares
In case of bonus shares fractions occurrence, Scientific & Medical Equip House Co. will collect all fractions in a single portfolio to be sold at market price, the value will be distributed to eligible shareholders each by their share during (30) days from the allocation of new shares to each shareholder
Approvals
The proposed grant is subject to obtaining necessary approvals from official authorities and Extraordinary General Assembly on the capital increase and number of granted shares
