Pan Gulf Marketing Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares

Pan Gulf Marketing Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares

Element List

Explanation

Introduction

Pan Gulf Marketing Co. announces the resolution of the Board of Directors' in its meeting held recommending to the Extraordinary General Assembly to increase the company's capital by granting bonus shares to the company's shareholders by capitalizing an amount of SAR 25,000,000 from the retained earnings, which represents an increase of 50% of the company’s capital. One (1) share shall be granted for every two (2) shares owned.

Date of Board Meeting

2024-03-14 Corresponding to 1445-09-04

Capital before increase

50,000,000 Saudi Riyal

Capital after increase

75,000,000 Saudi Riyal

Percentage of Capital increase

50 %

Number of shares before Capital increase

5000000

Number of shares after Capital increase

7500000

Reasons for the increase

By raising capital, the company aims to support and strengthen the capital base and future activities of the company, which will contribute to achieving good growth rates in the coming years.

Number of Shares Granted per Exiting Share

One share for every two shares owned

Nature and Value of Reserves Used in the Capitalization

Only 25,000,000 Saudi Riyals will be capitalized from