Calculating the fluctuation rate for “Tadweer” stock based on the price of 7.60 riyals

Yesterday, the Extraordinary General Assembly of the National Environmental Recycling Company approved an increase in the company’s capital by granting free shares.
According to the Saudi Tadawul statement, the fluctuation rate for the company’s stock was calculated based on the price of 7.60 riyals for today, Thursday 06/18/1446 AH, corresponding to 12/19/2024 AD, and the existing orders were cancelled.
The Securities Depository Center Company (Edaa) will add the bonus shares to shareholders’ portfolios before the start of trading on Monday 06/22/1446 AH corresponding to 12/23/2024 AD.
The Board of Directors of the National Environmental Recycling Company “Tadweer” announced the results of the extraordinary general assembly meeting (first meeting), which included an increase in the company’s capital.

Voting results on the Assembly’s agenda

1- Approval of the Board of Directors’ recommendation regarding increasing the company’s capital by granting free shares to the company’s shareholders according to the following:
• The capital before the increase was 58,080 million riyals, and after the increase the amount was 116,160 million riyals.
• Percentage of capital increase: 100%
• The number of shares before the increase was 58.080 million shares, and after the increase was 116.160 million shares.
• Method of covering the increase: by capitalizing an amount of 58,080 million riyals from the retained earnings balance.
• Increase rate per share: One (1) free share is granted to every shareholder who owns (1) share.
The eligibility date for the bonus shares will be for the company’s shareholders who own the shares on the day of the extraordinary general assembly and are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the entitlement date.
In the event that there are fractional shares, they will be collected in one portfolio for all shareholders, sold at the market price, and then their value distributed to the shareholders entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of determining the shares owed to each shareholder.
• Approval of amending Article Seven (7) of the company’s bylaws relating to capital
• Approval of amending Article Eight (8) of the company’s bylaws related to subscription to shares.
2- Approval to amend Article Four (4) of the company’s bylaws related to the company’s purposes.
3- Approval of amending Article Fourteen (14) of the company’s bylaws relating to the purchase, mortgage and mortgage of shares.
4- Approval of amending Article Fifteen (15) of the company’s bylaws related to the company’s management.
5- Approval of amending the work regulations of the Audit Committee.