Al Kathiri Holding Co. Announces the Board’s resolution on increasing the capital by granting shares

IntroductionAlkathiri Holding Company Announces the Board Recommendation to Increase the Company’s Capital Through Bonus Shares
Date of Board Meeting2019-03-05 Corresponding to 1440-06-28
Capital before increase37,674,000
Capital after increase45,208,800
Percentage of Capital increase20 %
Number of shares before Capital increase3,767,400
Number of shares after Capital increase4,520,880
Reasons for the increaseStrengthen the Company’s capital base and support its future activities
Number of granted shares per exiting shareOne bonus share for every 5 shares held
Nature and value of reserves used in the capital increaseUtilization of SR(7,534,800) of the Company’s existing retained income reserves
Entitlement DateThe eligibility for these Bonus shares will be limited to the shareholders owning shares at the end of the day of the Extraordinary General Assembly Meeting (EGM) of the Company and who are registered in the shareholder’s register of the Company in the Securities Depository Center (Edaa) at the close of the second trading day after the date of the EGM meeting day. The EGM will be held during 2019 and will be announced at a later date after obtaining the necessary approvals from the relevant authorities
Fractional stocksIn the case of any bonus shares having fractions these will be collected into one investment portfolio and will then be sold at market price within thirty days from the completion date of the allocation of the new shares
ApprovalsThe Company also wishes to draw the attention of the shareholders to the fact that this proposed increase in capital will only be initiated once all necessary approvals are received from all the required official authorities, as well as from the shareholders in the EGM