The share of the Saudi Maharah Human Resources Company jumped by more than 3% in trading today, Sunday, after the company’s extraordinary general assembly approved the Board of Directors’ recommendation to increase the company’s capital by 26.67% by granting bonus shares.
The total value of the capital increase is 100 million riyals, so that the capital after the increase becomes 475 million riyals.
“Mahara” said in a statement posted on the Saudi Tadawul Group website that one share will be granted for every five shares.
The company aims to support its financial position by increasing the capital, while the increase will be through capitalizing retained earnings in an amount of 100 million riyals.
The eligibility date for the shareholders who own the shares will be at the end of trading on the day of the extraordinary general assembly of the company and those registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the extraordinary general assembly.
2.5 million shares of the capital increase, representing 5.3% of the total new capital, will be allocated for the purpose of establishing the company’s employee shares program (the long-term incentive plan).
2023-06-11 09:19:00
#Saudi #market #Mahara #shares #jumped #approving #capital #increase
