The General Assembly of “Al-Madawa” approves a 200% increase in capital

The Specialized Medical Therapy Company announced the results of the extraordinary general assembly meeting (first meeting) including an increase in the company’s capital, which was held yesterday, Sunday.

The company said in a statement on its website "Saudi Arabia trading"The results of the vote on the Assembly’s agenda included:

1. Approval to transfer the balance of the statutory reserve amounting to (2,940,594) riyals as in the annual financial statements ending on (12/31/2024 AD) and the preliminary financial statements ending on 06/30/2025 AD to the retained earnings balance.

2. 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:

– Capital before the increase is (23,750,000) riyals.

– Capital after the increase is (71,250,000) riyals.

– Capital increase percentage: 200%.

– Number Shares before the increase (23,750,000) shares.

– Number of shares after the increase: (71,250,000) shares.

– Method of covering the increase: by capitalizing an amount of (47,500,000) riyals from the share premium balance.

– Increase rate per share: Two free shares are given to every shareholder who owns shares.

– Reasons for the increase: enhancing the strategic growth plan, future expansion needs and aspirations, and emphasizing its financial solvency and the strength of its financial position.

– Amending Article (7) of the company’s bylaws related to (capital).

– Amending Article (8) of the company’s bylaws related to (subscription). In shares).

– The eligibility date for the bonus shares for the company’s shareholders who own the shares on the day of the extraordinary general assembly and who are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) will be 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 wallet for all shareholders, and sold at a price The market value is then 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 entitled to each shareholder.

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