The General Assembly of "National Marketing" approves the increase of the capital

The extraordinary general assembly of the National Building and Marketing Company approved the recommendation of the Board of Directors to increase the capital from 60 million riyals to 120 million riyals, increasing the number of shares to 12 million Shares instead of 6 million shares.

According to Arabiya Net, the company said in a statement that the aim of increasing the capital is to support and strengthen the capital base and future activities of the company, which will contribute to achieving growth rates and diversification in investments. The company will do well for the coming years.

She clarified that the capital increase would be through the granting of bonus shares to shareholders from other reserves and retained earnings equivalent to one share for every issued share at 100% of the capital.

and the date of eligibility for the bonus shares to the shareholders of the company who own the shares on the day of the extraordinary general assembly who are registered in the company's shareholders register at the Securities Depository Center Company, the Depository Center at the end of the second day Trading follows the due date.

and in the event of stock fractions, they will be grouped into one portfolio for all shareholders, sold at the market price, and then its value is distributed among the eligible shareholders for 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.

In a related context, the shareholders agreed, during the meeting, on the works and contracts that will take place during the year 2020 AD-2021 AD between the company and Ajeej Steel Industry and its derivatives, which belongs to Fahd Al-Thunayan. Indirect interest in it, which is the acquisition of the entire shares of Agij Steel Industry and its derivatives at an amount of 180 million riyals, noting that there are no preferential conditions.

and the National Company for Construction and Marketing, announced at the end of November 2020, the signing of a memorandum of understanding to acquire the entire shares of Agij for the steel industry and its derivatives, estimated at 180 million riyals. / p>

AGEJ operates in the steel industry sector and is owned by the Chairman of the Board of Directors of the National Building and Marketing, Fahd Thunayan, according to a previous company statement.

In addition, the Saudi Stock Exchange Company, Tadawul, announced that the company's share volatility was calculated based on the price of 457.40 riyals, today, Sunday, and canceling the existing orders, after the approval of the assembly General on the increase.

She added that the Securities Depository Center Company, Edaa, will add bonus shares to shareholders' portfolios before the start of trading on Tuesday, 5 January 2021.