‎Retal shareholders OK 25% capital increase via bonus issue

‎Retal shareholders OK 25% capital increase via bonus issue

Retal Urban Development Co.’s shareholders approved increasing the company’s capital by 25% from SAR 400 million to SAR 500 million via a 1-for-4 bonus share distribution, during the extraordinary general meeting (EGM) held on July 20, according to a statement to Tadawul.

Shareholders also approved authorizing the board to pay interim dividends semi-annually or quarterly for 2023.

In a separate statement, the Saudi Exchange (Tadawul) said the fluctuation limits will be based on Retal’s share price of SAR 9.10 today, July 23. Accordingly, the outstanding orders will be canceled.

Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by July 25.