Riyadh - Mubasher: Arabian Centres Company (Cenomi Centers) received approval at its extraordinary general meeting (EGM) on 27 September to increase its capital from SAR 4.75 billion to SAR 5.18 billion.
The 8.98% increase will be funded through the capitalization of SAR 426.59 million from the company’s retained earnings.
The expansion involves the issuance of 42.65 million new shares. Of these, 39.58 million shares will be distributed to shareholders as a bonus issue at a ratio of one share for every 12 shares held, representing an 8.33% distribution.
The remaining 3.07 million shares, or 0.65% of the total, are earmarked for a new long-term employee stock incentive program.
The company stated the capital hike aims to support future growth and strengthen its financial position.
Eligibility for the bonus shares is set for the assembly date of 27 September, for shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day following the eligibility date.
Fractional shares will be aggregated and sold at market price, with proceeds distributed within 30 days.
The meeting recorded a 59.79% attendance rate, with the capital increase proposal passing with 99.12% approval.
