Asas Makeen Real Estate Development and Investment Company announces the Board of Directors’ recommendation to increase the company’s capital by issuing shares.
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Element List |
Explanation |
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Introduction |
Asas Makin Real Estate Development and Investment Company announces the Board of Directors’ recommendation to the Extraordinary General Assembly to increase the company’s capital by granting free shares, with the aim of supporting the capital base and strengthening the company’s financial position in line with the growth of its business and the expansion of its activities |
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Date of Board Meeting |
2025-10-29 Corresponding to 1447-05-07 |
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Capital before increase |
100,000,000 Saudi riyals |
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Capital after increase |
300,000,000 Saudi riyals |
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Percentage of Capital increase |
200 % |
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Number of shares before Capital increase |
10000000 |
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Number of shares after Capital increase |
30000000 |
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Reasons for the increase |
The increase aims to support the growth strategy, strengthen the capital base, and bolster the company's financial position to implement its future plans and activities, thereby enabling the company to expand and maximize shareholder returns |
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Number of Shares Granted per Exiting Share |
Two shares for every share owned |
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Nature and Value of Reserves Used in the Capitalization |
The capital increase will be funded by capitalizing SAR 200,000,000 from retained earnings |
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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 |
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Fractional Shares |
In the event of fractional shares, they will be collected into a single portfolio for all shareholders and sold at the market price. The proceeds will then be distributed to the shareholders entitled to the bonus shares, each according to their respective share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder |
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Approvals |
The increase in capital and the number of shares granted are subject to the approval of the competent official authorities, as well as the company's extraordinary general assem |