Sagr insurance approves 25% capital raise

A 25% capital raise of Sagr Insurance Company (from SAR 200m to SAR 250m) was approved in the Extraordinary general assembly meeting that was held on 6/5/2013 to enhance shareholders’ returns.

The Capital increase is to take place by issuing one bonus share to each four shares owned by registered shareholders as SAR 50m of retained earnings will be capitalized.

By this issuance the number of outstanding shares will be increased from 20,000,000 shares to 25,000,000 shares.