| Introduction | Edarat Communication and Information Technology Co. (EDARAT) announces the Board of Directors’ decision on 2024/12/5 AD corresponding to 1446/6/4 AH to submit a recommendation to the company’s Extraordinary General Assembly to increase the capital by capitalizing part of the retained earnings by granting one share for each one share. |
| Date of Board Meeting | 2024-12-05 Corresponding to 1446-06-04 |
| Capital before increase | 25,200,000 Saudi Riyals |
| Capital after increase | 50,400,000 Saudi Riyals |
| Percentage of Capital increase | 100 % |
| Number of shares before Capital increase | 2520000 |
| Number of shares after Capital increase | 5040000 |
| Reasons for the increase | The company aims to raise capital to support and strengthen the capital base and future activities of the company, which will contribute to achieving good growth rates in the coming years, God willing. |
| Number of Shares Granted per Exiting Share | One share for each one share. |
| Nature and Value of Reserves Used in the Capitalization | Only 25,200,000 Saudi riyals will be capitalized from the reserves and retained earnings. |
| Eligibility Date | Eligible Shareholders are Those Holding Shares in the Eligibility Date as per the Shareholders Registry at the Deposit Center at The End of The Second Working Day after Eligibility Date |
| Fractional Shares | In the event of fractional shares, the fractions will be collected in one portfolio for all shareholders and sold at the market price, then their value will be 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 new shares due to each shareholder. |
| Approvals | The grant is conditional on obtaining the approval of the official authorities and the Extraordinary General Assembly on the increase in the capital and the number of granted share. |
