The Board of directors of Alkhaleej Training and Education Company has recommended an increase in the company’s capital through bonus shares.
Alkhaleej Training and Education Company announces that the Board of directors on his meeting 17-02-2015 has recommended to extraordinary general assembly meeting to increase the company’s capital through bonus shares as following:
1.Company’s capital before increase is SAR 350,000,000 , company’s capital after increase SAR 400,000,000 , with an increase by 14.28%.
2.The number of shares before increasing 35,000,000 shares, the number of shares after increasing 40,000,000 shares.
3.Offering 1 bonus shares for every 7 shares owned.
4.The increasing will be doing through capitalization SAR 50,000,000 from account
5.The company aimed from capital increasing to Expansions undertaken by the company in the establishment of educational projects.
6.The bonus shares is limited to the shareholders who are registered in the shareholder’s register in the Securities Depository Center (Tadawul) at the close of trading on the extraordinary general assembly day, which will be determined later by the company.
7.In cause have bonus shares fractions; the company will collect it in one portfolio then selling it during 30 days from finishing allocating the new shares. The proposed increase in capital would be initiated only once necessary approvals are received from official authorities as well as from shareholders in extraordinary general assembly meeting.
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