Logo of Sure Global Tech Co.
The board of directors of Sure Global Tech Co. recommended on Sept. 17 to increase the company’s capital by 50% through a 1-for-2 bonus share distribution, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 51.30 mln |
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No. of Shares |
5.13 mln |
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Percentage of Increase |
50% (one bonus share for every two existing shares) |
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Method |
Bonus share distribution |
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New Capital |
SAR 76.95 mln |
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No. of Shares |
7.69 mln |
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Reason |
To boost strategic growth and financial position |
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Method |
Capitalization of SAR 25.65 mln from retained earnings |
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Record Date |
Shareholders of record and those registered with Edaa on the second trading day following the general meeting. |
Fractional shares will be compiled in one portfolio for all shareholders and sold at the market price, and the proceeds will be distributed to the shareholders pro rata within a period not exceeding 30 days.
The bonus issue is subject to the approval of the competent authorities and the extraordinary general meeting (EGM).
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