Riyadh – Mubasher: The equityholders of Sure Global Company gave the green light to increase the capital by 50% to reach SAR 76.94 million through bonus shares.
The company held its extraordinary general meeting (EGM) on 13 November 2023, during which the shareholders approved the capital increase from SAR 51.29 million by granting one bonus share for every two owned shares, according to a bourse disclosure.
The approval will result in the issuance of 2.56 million new shares at a nominal value of SAR 10 per share.
Sure Global noted that the number of shares after the hike process will increase to 7.69 million shares from 5.12 million.
The SAR 25.64 million capital increase value will be capitalised from the retained earnings account.
It is worth noting that on 4 October 2023, Sure Global’s capital hike was approved by the Capital Market Authority (CMA).
