Almarai's Board of Directors recently approved raising the company's capital from SAR 4 billion to SAR 6 billion by distributing 50 percent bonus shares to shareholders (one share for every two existing shares).
The company explained in a statement on «Tadawul« that the Board of Directors reviewed in its meeting the performance of the company and the progress of work in its projects and future investment plans announced on May 29, 2012, with a capital investment of 15.7 billion riyals, and the Board expressed its full satisfaction with the progress of the company's projects, as well as its performance taking into account the circumstances currently surrounding the food industry, and the company said: In April 2012, Almarai's General Assembly approved increasing its capital from SAR 2,300 million to SAR 4,000 million by way of bonus shares, an increase of 74%.
The company explained in a statement on «Tadawul« that the Board of Directors reviewed in its meeting the performance of the company and the progress of work in its projects and future investment plans announced on May 29, 2012, with a capital investment of 15.7 billion riyals, and the Board expressed its full satisfaction with the progress of the company's projects, as well as its performance taking into account the circumstances currently surrounding the food industry, and the company said: In April 2012, Almarai's General Assembly approved increasing its capital from SAR 2,300 million to SAR 4,000 million by way of bonus shares, an increase of 74%.
The company said that it will work to obtain the required approvals and complete the necessary executive procedures to implement the Board's recommendation to increase the capital.
