The Board of Directors of Almarai Company, during its meeting on the evening of June 7th 2017, has decided to recommend to an Extraordinary General Shareholders Assembly (EGM) an increase in its share capital from SAR 8,000 million to SAR 10,000 million through the distribution of one bonus share for each outstanding 4 shares (an increase of 25%), as a result the number of shares will increase from 800 million to 1,000 million.
The objective of this proposed share capital increase is to adjust the companys share capital to its assets level.
This share capital increase will be financed through the capitalization of SAR 2,000 million from the company retained earnings.
This proposed bonus share issuance will be limited to the shareholders who are registered in the shareholders register in Securities Depository Center Co (The Center) at the second day following the close day. Please note that in case of bonus shares fractions, the company will collect these fractions in one portfolio then proceed with selling with market price these fractions over a period of 30 days to complete their allocation to all new shares.
The company also wishes to draw the attention of shareholders that this bonus share issuance is conditional on the approval from the official authorities and the Extraordinary General Shareholders Assembly (EGM) to increase the companys capital.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.