The Market Authority agrees to extend Saudi return capital by 46.6% via grant shares

The Saudi Reinsurance Firm brand -re -re –

The Capital Market Authority introduced the issuance of its choice that features approval of a request The Saudi Reinsurance Firm Enhance its capital by 46.6 %, from 1158.3 million riyals to 1698.1 million riyals.

The rise will likely be by granting 4 free shares for every 9 record of shares owned by shareholders registered within the supply shareholders’ report on the deposit middle on the finish of the second buying and selling day following the date of the entitlement that the corporate’s board of administrators will decide its date at a later time.

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The worth of the rise within the capital will likely be paid by transferring the quantity of 539.8 million riyals from the merchandise of “remaining earnings”, and thus the variety of shares will increase from 115.83 million shares to 169.81 million shares, a rise of 53.98 million shares.

The fee stipulated that the extraordinary basic meeting date not exceed 6 months from the date of this approval, and that the corporate full the procedures and associated regulatory necessities.

In line with knowledge numbersThe Board of Administrators of the Saudi Return beneficial final March to extend the capital by 46.6% from 1158.3 million riyals to 1698.1 million riyals, by granting 51.48 million shares a cup of grants to shareholders by 4 shares per 9 current shares, and allocating extra 2.5 million shares to the lengthy -term worker incentives inventory program.

Capital improve particulars:

The Saudi Reinsurance Firm obtained the letter of the insurance coverage fee final Might, which incorporates approval to extend the corporate’s capital from 1.16 billion riyals to 1.7 billion riyals via a formation of 539.8 million riyals from the remaining earnings.