The Capital Market Authority (CMA) board has issued its resolution approving Takween Advanced Industries Company's request to increase its capital from SR 300,000,000 to SR 350,000,000 through issuing one bonus share for every 6 existing shares owned by the shareholders who are registered in the shareholders registry at the closing of trading on the day of the extraordinary general assembly, according to Tadawul website.
Such increase will be paid by transferring an amount of SR 50,000,000 from its Retained Earnings Account to the company's capital, consequently increasing the company's outstanding shares from 30,000,000 shares to 35,000,000 shares, by an increase of 5,000,000 shares. The bonus shares eligibility is limited to the shareholders who are registered in the shareholders registry at the close of trading on the day of the extraordinary general assembly, which will be determined later by the company's board, and should be held within six months from the approval date. This approval is conditional on the company satisfying the regulatory requirements of Companies Law and any other applicable laws.
CMA grants Takween capital increase
