47 Days
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Learning Academy Board proposes 16.67% share boost
The Learning Academy Company has announced that its Board of Directors has recommended increasing the company's capital by 16.67% through the issuance of free shares to shareholders, at a rate of one share for every six existing shares. The aim is to support expansion plans and strengthen the financial position. The increase will be financed by capitalizing 22.5 million SAR from accumulated profits, without any impact on shareholders' equity or cash liquidity. Eligibility will be based on shareholders holding shares on the date of the Extraordinary General Assembly, with any fractional shares being handled through selling them and distributing the proceeds to shareholders. This step follows the company's phased distribution of 13.5 million SAR as profits for the first half of the financial year.
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