Part 1: Capital Increase Recommendation for Hasoob Trading Company
Date: 07/09/2022G
On September 6, 2022, the Board of Directors of Hasoob Trading Company recommended to the Extraordinary General Assembly a capital increase of 100% through the issuance of bonus shares to shareholders. This will be achieved by capitalizing SAR 14 million from retained earnings and granting 1 bonus share for every 1 share held by shareholders, as detailed in the following table:
| Capital Increase Details | Value / Description |
| Current Capital | SAR 14,000,000 |
| Current Number of Shares | 1,400,000 shares |
| Percentage of Increase | 100% |
| Method of Increase | Capitalizing SAR 14,000,000 from retained earnings and issuing 1 bonus share for every 1 share held at eligibility. |
| Capital After Increase | SAR 28,000,000 |
| Number of Shares After Increase | 2,800,000 shares |
| Reasons for Increase | Aimed at supporting expansion, driving growth, maximizing total shareholder returns, and backing future operations. |
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Eligibility Date:
Eligibility shall belong to shareholders holding shares at the end of the trading day of the Extraordinary General Assembly meeting date (to be determined later) and registered in the company's register at the Securities Depository Center Company (Edaa) by the end of the second trading day following the Extraordinary General Assembly date. -
Conditions and Approvals:
In a statement on "Tadawul" today, the company noted that the bonus issuance remains subject to obtaining necessary approvals from official authorities and the Extraordinary General Assembly regarding the capital increase and the number of bonus shares issued. -
Fractional Shares:
In the event of fractional bonus shares, they will be aggregated into a single portfolio for all eligible shareholders and sold at market price. The resulting proceeds will be distributed to eligible shareholders according to their respective entitlements within a period not exceeding 30 days from the date of determining the new shares due to each shareholder.
Part 2: Corrective Announcement from Ladan Investment Company
(One of the investee companies of Morse Information Technology Holding Company)
Date: 29/09/2022G
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Corrective Announcement Details: Corrective announcement regarding the preliminary financial results for the period ended June 30, 2022.
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Date of Previously Published Announcement on Tadawul: 11/02/1444 AH, corresponding to 07/09/2022G.
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Incorrect Statement in Previous Announcement:
Total shareholders' equity (after excluding minority interest) for the current period reached SAR 544,161,852, compared to SAR 516,690,120 for the same period of the previous year, representing a change of 5.32%. -
Correction:
Total shareholders' equity (after excluding minority interest) for the current period reached SAR 544,161,852, compared to SAR 539,383,713 for the same period of the previous year, representing a change of 0.885%.