The Capital Market Authority approves the capital increase request for Saudi Marketing Company (Farm Superstores) through issuance of bonus shares
The CMA Board has issued its resolution approving Saudi Marketing company’s (Farm Superstores) request to increase its capital from SAR (250,000,000) to SAR (350,000,000) through issuing two bonus shares for every (5) 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. Such increase will be paid by transferring an amount of SAR (100,000,000) from the “Retained Earnings” account to the Company's capital. Consequently, increasing the Company's outstanding shares from (25,000,000) shares to (35,000,000) shares, by an increase of (10,000,000) 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.