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29 April, 2024 08:00
Intelligent Oud Company for Trading Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Intelligent Oud Co. for Trading Company (iOud) recommends to the Extraordinary General Assembly an increase in the company’s capital by 20% by granting bonus shares by capitalizing 3,250,000 riyals from retained earnings as follows: |
| Date of Board Meeting | 2024-04-28 Corresponding to 1445-10-19 |
| Capital before increase | 16,250,000 SR |
| Capital after increase | 19,500,000 SR |
| Percentage of Capital increase | 20 % |
| Number of shares before Capital increase | 1625000 |
| Number of shares after Capital increase | 1950000 |
| Reasons for the increase | The company aims to strengthen its finances and to support future expansions. |
| Number of Shares Granted per Exiting Share | One share for every five shares |
| Nature and Value of Reserves Used in the Capitalization | Only 3,250,000 SAR will be capitalized 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 the event that there are fractional shares, the fractional shares will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to their share, within a period not exceeding 30 days from the date of determining the new shares entitled to each shareholder. |
| Approvals | This recommendation is subject to obtaining necessary approvals from official authorities and extraordinary general assembly. |
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