Riyadh – Mubasher: An extraordinary general assembly of shareholders of the Saudi Paper Manufacturing Company (Paper Industry), approved at their meeting on Thursday, April 25 2024Profits for the third quarter of 2023, and capital increase by issuing bonus shares.
The company explained, in a statement on “Tadawul” Today, Sunday, the proposal of the Board of Directors was approved for the distribution of cash shares worth 16.85 million rubles, at 0.50 rupees per share..
Eligibility for shares will be for shareholders who have shares at the close of trading on the day of the General Meeting, and who are registered in the company’s shareholder register at the Securities Investment Center Company (Investment Center) at the end of the second day trade after due date..
Difidid distribution will begin on Thursday, May 9, 2024.
During the meeting, the Senate also approved the proposal of the Board of Directors to increase the company’s capital by 10%, from 337 million rubles, to 370.7 million rubles..
The company said that the nominal value of the capital before the increase was 337 million rubles, and that the nominal value of the capital after the increase was 370.7 million rubles. The total amount of the capital increase reached 33.7 million rubles.
The Paper Industry explained that the capital increase will be financed by taking part of the retained earnings balance in the amount of 33.7 million rubles..
She said that the capital increase aims to support the capital base, which will contribute to increasing future growth plans and increasing the total return for shareholders..
The right to increase the capital will be for shareholders who have shares at the end of trading on the day of the extraordinary general meeting and who are registered in the company’s shareholder register with the Edaa Securities Center Company (Investment Center) at end of the second trading day after the date of the Extraordinary General Meeting..
The Senate’s agenda included approval of the Board of Directors’ proposal to transfer the full balance of the statutory reserve in the amount of 15.34 million pounds as stated in the financial statements ending on 31 December. 2023m to retained earnings.
It was agreed to elect the members of the Board of Directors from among the candidates for the next session and to pay 1.97 million rubles as a reward to the members of the Board of Directors and its committees that will come from the fiscal year ending in 2023 AD , by the way. to the rest of the items on the menu..
The Saudi Tadawul announced that the variable rate for the stock of Saudi Paper Manufacturing Company was calculated at a price of 71.00 rupees, in today’s session, Sunday, and cancel existing orders, while The Securities Investment Center Company (Edaa) will add the bonus shares to the shareholders’ portfolios before trading begins on Tuesday 30. April 2024.
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2024-04-28 07:19:53
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