The Extraordinary General Assembly of Shareholders of Top View Commercial Services Company (Tobi) approved, in its meeting yesterday, Tuesday, June 25, 2024, increasing the company’s capital by granting free shares.
The company stated, in a statement on the Saudi Stock Exchange today, Wednesday, that it was approved to increase the capital by 100%, from 150 million riyals to 300 million riyals.
She pointed out that the capital increase was through capitalizing 150 million riyals from the retained earnings account, by granting a free share for each share owned.
She also pointed out that the capital increase aims to strengthen the company's capital base, which contributes to enhancing future growth plans.
The company stated that the right to increase the capital is for shareholders who own shares on the day of the Extraordinary General Assembly and are registered in the company’s shareholders’ register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the Assembly.
During the meeting, the Assembly approved authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the year 2024 AD.
The company’s auditors’ report for the fiscal year 2023 was approved, and the members of the Board of Directors were discharged, in addition to the rest of the topics on the agenda.
The Saudi Stock Exchange announced that the fluctuation rate for the shares of Al-Ardh Al-Mutaqin Commercial Services Company will be calculated based on a price of 14.68 riyals during today’s session, Wednesday, and existing orders will be cancelled. The Securities Depository Center Company (Edaa) will add the bonus shares to shareholders’ portfolios before the start of trading on Sunday, June 30, 2024.
