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
Shareholders owning shares…
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