Thursday, May 23

Logo ofObeikan Glass Co.

The board of directors ofObeikan Glass Co.recommended a 33.3% capital increase to SAR 320 million, through a one-for-three bonus share distribution, to be partly financed from retained earnings, the company said in a statement to Tadawul.

Detailsof Bonus Shares

Current capital

SAR 240 mln

Number of shares

24 mln

Percentage of increase

33.3% (one share for every three shares held)

Newcapital

SAR 320 mln

Number of shares

32 mln

Reason

Tostrengthenthe company’scapital base andsupportfuture activities,to record high growth rates over the coming yearsin line with the company’s policy

Method

Capitalization of SAR 80 mln of retained earnings

Record date

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