Nofoth shareholders to vote on 100% capital hike via bonus issue on Jan. 7

17/12/2023 Argaam

Nofoth shareholders to vote on 100% capital hike via bonus issue on Jan. 7

Logo of Nofoth Food Products Co.

Shareholders of Nofoth Food Products Co. will vote on increasing the capital by 100% via a one-for-one bonus share issue.

 

The vote will take place in an extraordinary general meeting (EGM) on Jan. 7, according to a statement to Tadawul.

 

Details of Bonus Issue

Current capital

SAR 24 mln

Current number of shares

24 mln 

Nominal value

SAR 1

Percentage of increase

100% (one share for every share held)

New capital

SAR 48 mln

Number of shares

48 mln

Method

Capitalization of SAR 24 mln of retained earnings

Reason

To achieve the company’s strategy aimed at expansion and growth, as well as maximize total shareholders' equity, through boosting and diversifying brands and seizing the expected growth opportunities in the food sector in general. 

Record date

Jan. 7, 2024

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