The Extraordinary General Assembly of Saudi Aramco approved increasing the company’s capital from 75 billion riyals to 90 billion riyals, by capitalizing 15 billion riyals of retained earnings, by granting one share for every ten shares owned by shareholders.
According to the data, the number of shares of the company before the increase is 220 billion shares, and after the increase it will become 242 billion shares.
Aramco said in a statement today, Tuesday, that it aims, through the capital increase, to maximize total returns for shareholders by distributing sustainable and increasing profits in line with future aspirations and growth in free cash flow, and creating higher value in the long term by investing in many of the opportunities available to the company.
She explained that in the event that there are fractional shares granted as a result of the capital increase, the fractions will be collected in one portfolio for all the company’s shareholders who are entitled to fractional shares and sold at the market price, then their value will be distributed to the shareholders entitled to fractional shares, each according to his share, within a period not exceeding 30 days from the date Determine the shares due to each shareholder.
The company stated that the eligibility for the bonus shares will be for the company’s shareholders who own shares at the end of the trading day of the company’s extraordinary general assembly and who are registered in the Saudi Aramco shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the extraordinary general assembly.
