The Capital Market Authority's Approval of Arab Internet and Communications Services Company's Request to Increase Its Capital Through the Issuance of Bonus Shares

موافقة الهيئة على طلب الشركة العربية لخدمات الإنترنت والاتصالات زيادة رأس مالها عن طريق منح أسهم مجانية

The Capital Market Authority has approved Arab Internet and Communications Services Company's request to increase its capital from SAR 1,200,000,000 to SAR 2,400,000,000 through the issuance of one bonus share for every one existing share held by shareholders registered in the issuer's shareholder register at the Depository Center at the end of the second trading day following the entitlement date, which the company's board of directors will determine later. The capital increase will be funded by transferring SAR 1,200,000,000 from retained earnings, raising the number of shares from 120,000,000 to 240,000,000. The extraordinary general assembly must convene within six months of this approval, and the company must complete all relevant regulatory procedures and requirements.

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