The Saudi Arabian Oil Company (Saudi Aramco) announced that the amounts returned from the sale of fractional shares resulting from the company's capital increase have been deposited in the accounts of eligible shareholders.
Aramco said, in a statement on the Saudi Tadawul website today, Monday, that the proceeds of the sale of fractional shares were distributed to eligible shareholders resulting from the company issuing one bonus share for every 10 shares owned by shareholders. According to the approval of the Extraordinary General Assembly (first meeting) held on Monday, May 8, 2023 AD.
Aramco added that the proceeds from the sale of fractional shares were deposited on June 5, by depositing them in bank accounts linked to the investment portfolios of eligible shareholders.
The company pointed out that the number of shares sold amounted to 387.85 thousand shares, at a price of 33.50 riyals per share, bringing the amount returned from the sale of fractional shares to 12.99 million riyals.
And Aramco stated that, in the event that the amounts due are not received after the date of deposit, or if there are any other inquiries regarding the amounts of the fractional share sale, please contact the Investor Relations Department.
Last March, the company’s board of directors recommended an increase in the company’s capital by 20% by granting bonus shares by capitalizing 15 billion riyals of retained earnings. By granting one share for every 10 shares owned by the shareholders.
During the General Assembly meeting held on May 8, 2023, Aramco shareholders approved the Board of Directors’ recommendation to increase the company’s capital by 20%, from 75 billion riyals to 90 billion riyals, equivalent to 15 billion riyals, and to increase the number of shares from 220 billion shares to 242. billion shares.
