Logo of Al-Modawat Specialized Medical Co.
Al-Modawat Specialized Medical Co.’s board of directors recommended on April 27 a capital increase through a 2-for-1 bonus share distribution, by capitalizing SAR 47.5 million from the issuance premium balance, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 23.75 mln |
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Number of Shares |
23.75 mln |
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New Capital |
SAR 71.25 mln |
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New Number of Shares |
71.25 mln |
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Proposed Increase |
200% (2-for-1 bonus share distribution) |
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Reason |
Keeping up with the company's growth, expanding operations, reaffirming its financial solvency and the strength of its financial position. |
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Method |
Capitalizing SAR 47.5 mln from issuance premium balance |
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Record Date |
Shareholders of record and registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day after the record date |
Fractional shares, if any, will be compiled in one portfolio for shareholders and will be offered at the market price. The proceeds will then be distributed to eligible shareholders pro rata within a period not exceeding 30 days.
The capital increase and the bonus issue are subject to the approval of the official authorities and company shareholders.
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