The Board of Directors of the Saudi Ceramic Company has recommended increasing its capital by 33.3%, equivalent to 200 million riyals, by granting shares.
According to Arabiya Net, the company stated in a statement to Tadawul that the shares granted constitute one share for every 3 shares owned, and the increase will be made by capitalizing an amount of 200 million riyals of profits Remained.
and the company’s capital after the increase becomes 800 million riyals instead of 600 million riyals, and the number of shares is 80 million shares, instead of 60 million shares.
Saudi Ceramics said that the aim is to raise its capital in order to match the size of its business and assets and support its future expansion.
and the shareholders who own the shares are eligible on the day of entitlement registered in the issuer's shareholders register at the Depository Center at the end of the second trading day following the maturity date.
and in the event of stock fractions, the fractions will be collected in one portfolio for all shareholders and sold at the market price and then their value is distributed among the shareholders who are entitled to the grant, each according to his share within a period not Exceeding 30 days from the date of determining the shares due to each shareholder.
The company indicated that the grant is conditional on obtaining the approval of the official authorities and the extraordinary general assembly to increase the capital and the number of shares awarded.
