Solutions Calls EGM to Vote on SAR 1.2B Bonus Share Capital Increase
SOLUTIONS 7202.SA | 0.00 |
Arabian Internet and Communications Services Co.(7202.SA) announced on August 13, 2026 that its Board of Directors is convening an Extraordinary General Assembly meeting (First Meeting) on October 6, 2026 at 6:30 PM via the Tadawulaty Platform. The primary agenda item is a vote on the Board's recommendation to increase the company's capital by 100% through the issuance of bonus shares, raising the capital from SAR 1,200 million to SAR 2,400 million and increasing the total number of shares from 120 million to 240 million shares, funded by capitalizing SAR 1,200 million from retained earnings at a ratio of one bonus share for each share held. The capital increase aims to support the company's growth and expansion strategy, maximize shareholder returns, and seize opportunities in the IT sector across Saudi Arabia and the region. The assembly will also vote on amendments to Articles 7 and 8 of the Company's Bylaws and the Nomination & Remuneration Policy for Members of the Board, Committees & Executive Management.
Original announcement:
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