Date 06/11/2022AD
Fish Fash Foodstuff Factory Co. announces the Board of Directors' recommendation to increase the company's capital by granting shares
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Introduction |
The decision of the Board of Directors of Fish Fash Foodstuff Factory Company in its meeting on 09/04/1444 AH corresponding to 03/11/0222 to increase the company’s capital by granting free shares to the company’s shareholders by capitalizing an amount of (1245555) million two hundred and forty-five thousand five hundred and fifty-five Riyals from the statutory statutory reserve account,and the capitalization of an amount of (2521112) two million five hundred and twenty-one thousand one hundred and twelve riyals from the retained earnings account. |
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Board meeting date |
04-09-1444 Corresponding to 11-03-2022 |
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Capital before increase |
11300000 |
| Capital after the increase |
15066667 |
| Capital increase percentage |
% 33 |
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The number of shares before the increase |
1130000 |
| The number of shares after the increase |
1506667 |
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Reasons for the increase |
The capital increase aims to enhance the company’s solvency and strengthen the company’s capital to match its business volume and future plans. |
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The number of shares granted per share |
One share for every three shares |
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The nature and amount of the reserves to be used in the issuance of capitalization |
Capitalizing an amount of (1245555) one million two hundred and forty-five thousand five hundred and fifty-five riyals from the statutory reserve account, and capitalizing an amount of (2521112) two million five hundred and twenty-one thousand one hundred and twelve riyals from the retained earnings account. |
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Eligibility date |
Eligibility for the company’s shareholders at the Securities Depository Center (Tadawul) at the end of the second trading day following the day of the general assembly meeting, and the date of the assembly meeting will be announced later. |
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Stock fractions |
If there are fractional shares in any of the free shares, it will be aggregated into one portfolio for all shareholders and sold at the market price, then its value will be distributed to the shareholders entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of renewing the new shares due to each shareholder. |
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Approvals |
The grant is conditional on obtaining the approval of the official authorities and the extraordinary general assembly on an increase in the capital and the number of shares granted |