Halwani shareholders to vote on capital hike on Aug. 5

14/07/2019 Argaam

Halwani Bros Co.’s shareholders are set to vote on a 10 percent capital hike to SAR 314.29 million from SAR 285.71 million through the issue bonus shares during the general assembly meeting that will be held on Aug. 5, 2019.

 

The capital hike aims to boost the company’s capital to match its business size and future plans.

 

The process will take place through capitalizing SAR 28..57 mln from retained earnings account

 

Key Figures of the Capital Hike

Current Capital

SAR 285.71 mln

Number of shares

28.57 mln

Hike (%)

10% (1 share for every 10 shares)

New Capital

SAR 314.29

New number of shares

31.42 mln

Record date

Aug. 5, 2019

Method

Capitalizing SAR 28.57 mln from retained earnings account

Driver

To boost the company’s capital to match its business size and future plans.

 

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