Herfy Food Services has recommended an increase in the co.'s capital

21/04/2014 15:43 AST

Herfy Food Services Co announces that the Board of directors on his meeting 20-04-2014 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 330 Millions, company's capital after increase SAR 462 Millions, with an increase by 40%.
2.The number of shares before increasing 33 Million sshares, the number of shares after increasing 46.2 Millions shares.
3.Offering 2 bonus shares for every 5 shares owned.
4.The increasing will be doing through capitalization SAR 132 Millions from account Retained Earnings 31/21/2013
5.The company aimed from capital increasing to The company aimed from capital increasing to meet the current and future expansions of the Company sector.
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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