The Authority approved the request of Mohammed Hassan Al-Naqoul Sons Company to increase its capital by granting free shares.
The Capital Market Authority announces its approval of the request submitted by Mohammed Hassan Al-Naqoul Sons Company to increase its capital from SAR 29,000,000 to SAR 58,000,000 by granting one (1) bonus share for every (1) existing share held by shareholders registered in the issuer's shareholder register at the Securities Depository Center at the end of the second trading day following the entitlement date, which will be determined by the company's board of directors at a later date. The capital increase will be funded by transferring SAR 29,000,000 from retained earnings. Consequently, the number of shares will increase from 2,900,000 to 5,800,000, representing an increase of 2,900,000 shares. The Extraordinary General Assembly meeting must be held within six months of the date of this approval, and the company must complete all related regulatory procedures and requirements.
