| Element List | Explanation |
|---|---|
| Introduction | Sumou Real Estate company announces the Board of Directors’ decision' to recommend to the Extraordinary General Assembly an increase the company's capital by granting bonus shares to the company's shareholders by capitalizing an amount of SAR 125,000,000 from the retained earnings ,by granting one share for every three shares |
| Date of Board Meeting | 2024-03-21 Corresponding to 1445-09-11 |
| Capital before increase | 375,000,000 Saudi Riyal |
| Capital after increase | 500,000,000 Saudi Riyal |
| Percentage of Capital increase | 33.33 % |
| Number of shares before Capital increase | 37500000 |
| Number of shares after Capital increase | 50000000 |
| Reasons for the increase | By raising capital, the company aims to support and strength the capital base and future activities of the company, which will contribute to achieving the targeted growth rates during the coming years. |
| Number of Shares Granted per Exiting Share | One share for every three shares |
| Nature and Value of Reserves Used in the Capitalization | Only 125,000,000 Saudi Riyals will be capitalized from the Retained Earnings |
| Eligibility Date | The eligibility date for shareholders who own shares on the day of the extraordinary general assembly and who are registered in the register of the company’s shareholders at the Securities Depository Center (Edaa) will be at the end of the second trading day following the date of the assembly, which will be determined later. |
| Fractional Shares | In the event that there are fractional shares granted, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to their share ownership, within a period not exceeding 30 days from the date of determining the new shares entitled to each shareholder |
| Approvals | The proposed grant is subject to obtaining necessary approvals from official authorities and extraordinary general assembly meeting on the capital increase and number of granted shares |
| Additional Information | N/A |
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