Approval of the application made by Arab National Bank to increase its capital by issuing bonus shares

The CMA has approved the application made by the National Arab Bank to increase its capital from SR 4.550 million to SR 6.500 million.  This will be achieved by issuing three bonus shares for every seven shares held by the shareholders who are registered in the shareholders book by the end of the trading, which coincides with convening of the extraordinary general assembly meeting.  The approval is subject to the increase being paid by transfer of an amount of SR1.950 million from the general reserve. Consequently, shares in issue will increase from 455 million to 650 million shares, an increase of 195 million shares. The bonus shares will be confined to the shareholders who are registered at the end of the trading day that coincides with the extraordinary general meeting, the time of which shall be set later by the company`s board of directors.