Saudi Industrial Services Co. announces that the Board of directors on his meeting 26-02-2017 has recommended to extraordinary general assembly meeting to increase the company's capital through bonus shares as following:
- Company's capital before increase is SAR 680,000 Thousands, company's capital after increase SAR 816,000 Thousands, with an increase by 20%.
- The number of shares before increasing 68,000 Thousands shares, the number of shares after increasing 81,600 Thousands shares.
- Offering 1 bonus shares for every 5 shares owned.
- The increasing will be doing through capitalization SAR 136,000 Thousands from account retained earnings
- The company aimed from capital increasing to The objective of this proposed share capital increase is to adjust the company's share capital to its assets level, and to address the cash requirements for expansion..
- The bonus shares is limited to the shareholders who are registered in the shareholder's register in the Securities Depository Center Co (The Center) at the close of trading on the extraordinary general assembly day, which will be determined later by the company.
- In cause have bonus shares fractions; the company will collect it in one portfolio then selling it during 30 days from finishing allocating the new shares. The proposed increase in capital would be initiated only once necessary approvals are received from official authorities as well as from shareholders in extraordinary general assembly meeting.