Riyadh – Mubasher: The Board of Directors of Bank Aljazira invited shareholders to participate and vote in the 68th Extraordinary General Assembly meeting (first meeting), which includes increasing the bank’s capital. The meeting is scheduled to be held on Monday evening, April 28, 2025, via modern technology.

Bank Aljazira said in a statement on Tadawul today, Monday, that the agenda includes voting on the Board of Directors’ recommendation to increase the bank’s capital by 25% (the value of the increase is 2.56 billion riyals) through bonus shares, raising the capital from 10.25 billion riyals to 12.81 billion riyals, and thus increasing the number of the bank’s shares from 1.025 billion shares to 1.281 billion shares.

The bank added that the capital increase will be achieved by capitalizing an amount of SAR 2.56 billion from the statutory reserve account and the retained earnings account in equal proportions. The bank explained that the reasons for the increase are to strengthen the bank's capital base, which will help the bank achieve its strategic objectives.

Aljazira Bank noted that the right to bonus shares will be for the bank’s shareholders who own shares on the day of the extraordinary general assembly meeting and who are registered in the bank’s shareholders’ register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the day of the bank’s extraordinary general assembly meeting.

The bank confirmed that if there are fractional shares, the fractions will be collected in a single portfolio for all shareholders and sold at market price. Their value will then be distributed to shareholders entitled to the bonus, each according to his share, within a period not exceeding 30 days from the date of determining the new shares due to each shareholder.

Aljazira Bank pointed out that the agenda also includes voting on amending Article (7) of the Bank’s Articles of Association related to capital, voting on disbursing an amount of 9.39 million riyals as a bonus to the members of the Board of Directors for the fiscal year ending on December 31, 2024 AD, and voting on authorizing the Board of Directors to distribute interim dividends on a semi-annual/quarterly basis for the fiscal year 2025 AD.

The agenda also includes voting on the appointment of the bank's auditors from among the candidates nominated by the Audit Committee, to examine, review, and audit the financial statements for the second and third quarters, the final annual accounts for 2025, and the first quarter of 2026, and determine their fees.