Emblem of the United Worldwide Transportation Firm – Price range Saudi Arabia
The Capital Market Authority introduced the issuance of its resolution approving the request of the United Worldwide Transport Firm – Price range Saudi ArabiaGrowing its capital from 781.67 million riyals to 1045.42 million riyals.
She defined in an announcement that the rise can be by granting 1 free share for each 3 excellent shares owned by shareholders registered within the issuer’s shareholder registry on the depository heart on the finish of the second buying and selling day following the due date, the date of which the corporate’s board of administrators will decide at a later time.
She added that the worth of the capital enhance can be paid by transferring about 263.76 million riyals from retained earnings, thus rising the variety of shares from 78.17 million shares to 104.54 million shares, a rise of 26.38 million shares.
She indicated that the date of the extraordinary basic meeting should not exceed 6 months from the date of this approval, and that the corporate should full the related procedures and authorized necessities.
In keeping with the info obtainable on numbers، The Board of Administrators of United Worldwide Transport Firm really useful – Price range Saudi Arabia Throughout its assembly final June, the corporate’s capital elevated by 33.74% from 781.7 million riyals to 1045.4 million riyals.
The corporate added that this can be achieved by granting 26.1 million shares as bonus shares to shareholders on the fee of 1 share for each three excellent shares, which represents 33.33% of the rise within the firm’s capital, and allocating an extra 320,000 shares, which represents 0.41% of the rise within the firm’s capital, for the aim of allocating it to the long-term worker incentive inventory program. As the next desk exhibits:
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Particulars of capital enhance
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Present capital
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781.7 million riyals
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Variety of shares
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78.2 million shares
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Enhance proportion
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33.74 %
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Capital after enhance
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1045.4 million riyals
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Variety of shares after the rise
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104.5 million shares
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Enhance technique
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– Granting 26.1 million shares as bonus shares to shareholders on the fee of 1 share for each three excellent shares, representing 33.33% of the rise within the firm’s capital.
– Allocating an extra 320 thousand shares, representing 0.41% of the rise within the firm’s capital, for the aim of allocating them to the long-term worker incentive inventory program.
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Nature and worth of reserves
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By capitalizing 263.8 million riyals from retained earnings.
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Eligibility date
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To the corporate’s shareholders registered with the Securities Depository Heart on the finish of the second buying and selling day following the day of the meeting.
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The aim of the rise
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Supporting the corporate’s development and strengthening its monetary place
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It acknowledged that if there are fractional shares, the fractional shares can be collected in a single portfolio for all shareholders and bought on the market worth, after which their worth can be distributed to the shareholders on the eligibility date, every in keeping with their share, inside a interval not exceeding thirty days from the date of figuring out the shares entitled to every shareholder.
