Bank AlJazira Announces the Board’s Recommendation to Increase the Capital by Granting Bonus Shares

11 February 2025 01:43 PM

BJAZ 1020 -3.48% 12.22 -0.44

Element List	Explanation
Introduction	Bank AlJazira announces the Board of Directors resolution dated 11 February 2025 recommending to the Extraordinary General Assembly of the Bank to increase the Bank’s capital through capitalization from the Statutory Reserve and part of retained earnings by way of granting 1 share for every 4 shares.
Date of Board Meeting	2025-02-11 Corresponding to 1446-08-12
Capital before increase	10,250,000,000 Saudi Riyal
Capital after increase	12,812,500,000 Saudi Riyal
Percentage of Capital increase	25 %
Number of shares before Capital increase	1025000000
Number of shares after Capital increase	1281250000
Reasons for the increase	The aim of this proposed increase in the capital is to strengthen the capital base of the Bank which will contribute to enable the Bank to achieve its strategic objectives.
Number of Shares Granted per Exiting Share	1 share for every 4 shares.
Nature and Value of Reserves Used in the Capitalization	The increase in capital will be by capitalizing the amount of 2,562,500,000 Saudi Riyal from the Statutory Reserve account and retained earnings account in equal proportion.
Eligibility Date	The shareholders registered in the Bank's shareholders' register with the Securities Depository Center Company (Edaa) by the end of the second trading day following the date of the Extraordinary General Assembly meeting, which will be scheduled later, will be eligible for the bonus shares.
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 and then 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 shares granted.

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