Abdullah Al Othaim Markets Company announces that the Board of directors on his meeting 24-02-2014 has recommended to extraordinary general assembly meeting to increase the company's capital through bonus shares as following:
1.Company's capital before increase is SAR 225 Millions, company's capital after increase SAR 450 Millions, with an increase by 100%.
2.The number of shares before increasing 22.5 Millions shares, the number of shares after increasing 45 Millions shares.
3.Offering 1 bonus shares for every 1 shares owned.
4.The increasing will be doing through capitalization SAR 22.5 Millions from account of statutory and voluntary reserves and retained earnings.
5.The company aimed from capital increasing to meet the current and future expansions of the Company branches and enhancing the capital base which assists in achieving better growth rates in the next years..
6.The bonus shares is limited to the shareholders who are registered in the shareholder's register in the Securities Depository Center (Tadawul) at the close of trading on the extraordinary general assembly day, which will be determined later by the company.
7.In cause have bonus shares fractions; the company will collect it in one portfolio then selling it during 30 days from finishing allocating the new shares. The proposed increase in capital would be initiated only once necessary approvals are received from official authorities as well as from shareholders in extraordinary general assembly meeting.
8.The proposed increase in capital would be initiated once the necessary approvals are obtained from the the concerned authorities as well as the extra-ordinary general assembly and satisfying the regulatory requirements of Companies law and other applicable laws.
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.