JEDDAH: Dallah Healthcare Company has decided to increase company’s capital by 27.1 percent via giving free shares, a bourse filing said on Wednesday.
Company capital, which was SAR590 million (59 million shares) has now been increased to SAR 750 million (75 million shares). Company’s target from increasing capital is to support its capital to match its total assets.
Capital increase will be through giving one share for each 3.69 owned shares. Increase in capital will be through capitalization of SAR 160 million for the official reserve – issue bonus.
The Saudi Stock Exchange (Tadawul) announced that the addition of the bonus shares and the fluctuation limits for Dallah Healthcare Co. will be based on a share price of SR 52.30/share.
The general assembly of Dallah Healthcare Company approved modifying clause (7) of the establishment contract of the company which relates to company capital in accordance with company capital increase in case of general assembly approval of clause 1 in regards to capital increase
The general assembly of Dallah Healthcare Company allowed approved purchase of up to 3.75 million of its shares and keeping them as treasury shares in case of general assembly approval of clause 1 in regards to capital increase or company purchase a number of 2.95 million shares from its shares and keeping them as treasury shares in case the general assembly did not approve clause 1 that relates to capital increase on the condition that financing should be made from company own resources.
The Board is delegated to complete the purchase transaction in one-phase or several phases in a period of 12 months as maximum from the date of the extraordinary general assembly decision.
General assembly approved to keep purchased shares till 5 years and after completion of this period the company will follow the concerned rules and regulations.
Dallah Healthcare Company posted a net profit of SAR 141.8 million for the year ended December 31, 2018, down 51.9 percent, compared with the profit of SAR 295 million recorded in the previous year.