21 January 2007
Riyadh: The Saudi Advanced Company for Industries decided a 300 percent capital hike from the current SR108 million to SR432 million by increasing the number of shares from 10.8 million to 43.2 million.
This will be achieved by issuing three shares to every existing share at a nominal value of SR10 per share.
Further the general body also decided to issue a SR10 premium for each current share.
The meeting also decided to reduce the number of members of the board of directors from nine to seven, according to the Tadawul website yesterday.
Riyadh: The Saudi Advanced Company for Industries decided a 300 percent capital hike from the current SR108 million to SR432 million by increasing the number of shares from 10.8 million to 43.2 million.
This will be achieved by issuing three shares to every existing share at a nominal value of SR10 per share.
Further the general body also decided to issue a SR10 premium for each current share.
The meeting also decided to reduce the number of members of the board of directors from nine to seven, according to the Tadawul website yesterday.
© Arab News 2007
