Latest news with #bonusshares
Argaam
27-05-2025
- Business
- Argaam
Saudi Lime secures CMA go-head on capital hike to SAR 231M via bonus shares
The Capital Market Authority (CMA) approved today, May 27, Saudi Lime Industries Co. 's request to increase capital from SAR 220 million to SAR 231 million by issuing one bonus share for every 20 shares held. Eligible shareholders will be those registered with the Securities Depository Center (Edaa) by the end of the second trading day following the record date, which will be determined later by the company's board of directors, the market regulator said in a statement. The planned capital top-up will be funded by transferring SAR 11 million from the retained earnings account, which will raise the number of shares from 22 million to 23.10 million. The CMA stipulated that the deciding extraordinary general meeting (EGM) meeting must be held within six months from its approval date. The company must also fulfill the necessary legal procedures and requirements. According to data available with Argaam, last March, Saudi Lime's board recommended a 5% capital hike via bonus shares, as outlined in the following table:
Argaam
27-05-2025
- Business
- Argaam
Bahri gets CMA nod to top-up capital to SAR 9.23B via bonus issue
The Capital Market Authority (CMA) approved the National Shipping Company of Saudi Arabia's (Bahri) request to increase its capital from SAR 7.38 billion to SAR 9.23 billion by granting one bonus share for every four shares held. The planned capital hike will be funded by capitalizing SAR 1.84 billion from the company's retained earnings account. Consequently, the number of the company's outstanding shares will rise from 922.85 million to 738.28 million. The deciding extraordinary general meeting (EGM) shall be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws. According to data available with Argaam, in March, Bahri's board of directors recommended a 25% capital increase through a 1-for-4 bonus share issue.
Zawya
25-05-2025
- Business
- Zawya
NREC shareholders approve distribution of 5% bonus shares
RELATED TOPICS EQUITIES RELATED COMPANIES NREC Agility NREC Sultan Center Xinda Invt Hldg Kuwait: National Real Estate Company (NREC) held its Annual Ordinary General Assembly Meeting (AGM) today for the financial year ended 31 December 2024, with a quorum of 69.3%. The meeting was conducted electronically. The Company's shareholders approved all agenda items, including the Board's recommendation to distribute 5% bonus shares, equivalent to 5 shares for every 100 shares held. Shareholders registered in the Company's shareholder records on the settlement date of 25 June 2025 will be entitled to these bonus shares, with the distribution date set for 6 July 2025. The AGM also elected a new Board of Directors for the next three-year term, which includes: Name Classification Mr. Hassan Bassam Al-Houry Independent Mr. Faisal Jamil Sultan Al Essa Executive Mr. Bader Abdulmohsen El Jeaan Non-Executive Agility Investment Holding Limited, represented by Mr. Mohamed Hamad Abdulaziz Al Mutawaa Non-Executive The Sultan Center Food Products Co., represented by Mr. Tarek Abdul-Aziz Sultan Al Essa Non-Executive Mr. Christopher Michael Gordon Independent Financial and Operational Performance Overview In 2024, NREC recorded a net profit of KD 9.3 million and earnings per share of 4.91 fils, compared to a net loss of KD 35.2 million in 2023. Operating revenue stood at KD 5.8 million, down from KD 12.4 million the previous year. Total assets increased to KD 574 million, while shareholders' equity rose to KD 374 million. Operationally, the Company's key projects in Jordan and Libya continued to show resilience despite regional geopolitical challenges. South Aqaba Investment Park in Jordan maintained full occupancy across its warehouses and industrial buildings, while Palm City Residences in Libya improved occupancy to 61% by year-end, up from 58% in 2023. Strategic Focus and Value-Driven Investments NREC Vice Chairman and CEO Faisal Jamil Sultan Al-Essa reaffirmed the Company's commitment to enhancing shareholder value through a focused strategy. This includes the divestment of non-core assets, exploration of new investment opportunities in local and regional markets, and restructuring initiatives to support sustainable long-term growth. Sultan also emphasized the strategic importance of NREC's 22.3% stake in Agility Public Warehousing, highlighting confidence in its global leadership in supply chain innovation. In addition, NREC maintains investments in Agility Global, both directly and through Agility Public Warehousing. Agility Global manages a portfolio of prominent entities that includes Menzies Aviation, Tristar, and Agility Logistics Parks. Key Projects Milestones By the end of 2024, NREC marked major progress across its key projects. Reem Mall in Abu Dhabi officially opened in May, with over 197 retail units operational by year-end, highlighting strong leasing momentum. The $1.3 billion destination, co-invested by NREC, features more than 400 stores, 80 F&B outlets, and Snow Abu Dhabi, positioning it as a premier retail and leisure hub. Meanwhile, in Egypt, NREC's subsidiary KUWADICO had sold 83% of units in the Grand Heights project near Cairo as of year-end. The 3.8 million sqm development continued to progress steadily, offering a blend of residential, commercial, and recreational spaces designed to support a modern and sustainable community lifestyle. Commitment to Sustainability Sultan underscored NREC's focus on sustainability and responsible business practices: 'Sustainability is central to our operations and future growth. We are embedding responsible practices across our portfolio, with a focus on reducing environmental impact, fostering social inclusion, and upholding strong governance. Through our ESG initiatives, we aim to create lasting value for the communities we serve and support resilient, long-term growth for all stakeholders.' Closing Note Sultan concluded: 'I would like to extend my sincere appreciation to our shareholders for their continued support of the Company's strategic direction. I also wish to thank all our stakeholders for their continued trust and confidence in the Management team.' About NREC Established in 1973 and listed on Boursa Kuwait, National Real Estate Company (NREC) is a leading real estate investment, development, and property management firm based in the Middle East and North Africa. NREC's portfolio includes a diverse mix of retail, commercial, and residential properties across the region. For more information, please contact: Mageda Abbas –
Argaam
22-05-2025
- Business
- Argaam
Mulkia Investment gets CMA nod on 20% capital hike via bonus issue
The Capital Market Authority (CMA) approved Mulkia Investment Co. 's request to increase its capital from SAR 65 million to SAR 78 million through issuing one bonus share for every five existing shares owned, according to a statement. Subscription eligibility will be to shareholders who are registered with the Securities Depository Center (Edaa) as of the closing of the second trading day after the record date, which will be determined later. The planned capital hike will be funded by capitalizing SAR 13 million from the company's retained earnings account. Consequently, the number of the company's outstanding shares will rise from 6.5 million to 7.8 million. The company's extraordinary general meeting (EGM) shall be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws. According to data available with Argaam, in March, the company's board of directors recommended a 20% capital increase through a 1-for-5 bonus share issue. Capital Increase Details Current Capital SAR 65 mln Current Number of Shares 6.5 mln Nominal Value SAR 10 Capital Increase (%) 20% (One bonus shares for each five existing shares) Method Capitalizing SAR 13 mln from retained earnings New Capital SAR 78 mln Number of Shares 7.8 mln Reason Enhancing financial solvency in line with its future aspirations, implementing growth plans and maximizing shareholder returns. Eligibility Shareholders of record on the EGM date, which will be determined later, and those registered with Edaa by the end of the second trading day after the EGM Fractional shares, if any, will be consolidated into a single portfolio for all shareholders and sold at the market price. The resulting amount will then be distributed among eligible shareholders pro rata, within a period not exceeding 30 days.
