‎Mouwasat EGM to vote on 100% capital increase via bonus issue on August 7

‎Mouwasat EGM to vote on 100% capital increase via bonus issue on August 7

One of Mouwasat Medical Services Co.’s hospitals

Mouwasat Medical Services Co.'s shareholders will discuss the board’s recommendation to increase capital by 100% to SAR 2 billion, through a one-for-one bonus share distribution, during the extraordinary general meeting (EGM) that will be held on Aug. 7, according to a statement to Tadawul.







Capital Increase Details









Current Capital





SAR 1 bln









Number of Shares





100 mln









Percentage of Increase





100% (1-for-1 bonus share distribution)









New Capital





SAR 2 bln









Number of Shares





200 mln









Method





Through capitalizing SAR 1 bln of retained earnings and listing new shares of a previously listed share class by distributing one share for each owned share









Reason





To enhance the company's strategic asset growth plan, expand its medical network, and emphasize its financial solvency and strength.









Record Date





Aug. 7, 2023 (Shareholders registered with Edaa by the end of the second trading day following the