Riyadh Steel Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares

Riyadh Steel Co. Announces the Board’s Recommendation to Increase the Capital by Granting Bouns Shares

26 December 2023 08:04 AM

Element List

Explanation

Introduction

Riyadh Steel Company announces the recommendation of the company’s Board of Directors to the Extraordinary General Assembly to increase the company’s share capital by granting 40% bonus shares

Date of Board Meeting

2023-12-25 Corresponding to 1445-06-12

Capital before increase

50,000,000 SAR

Capital after increase

70,000,000 SAR

Percentage of Capital increase

40 %

Number of shares before Capital increase

5000000

Number of shares after Capital increase

7000000

Reasons for the increase

Supporting the company’s financial position and future growth plans

Number of Shares Granted per Exiting Share

Granting four shares for every ten shares owned by shareholders

Nature and Value of Reserves Used in the Capitalization

Only 20,000,000 Saudi Riyals will be capitalized from the Retained Earnings

Eligibility Date

Eligible Shareholders are Those Holding Shares in the Eligibility Date as per the Shareholders Registry at the Deposit Center at The End of The Second Working Day after Eligibility Date

Fractional Shares

In the event that there are fractional shares granted, the fractions will be collected in one