Sidoney Centers to boost capital via bonus shares
The Extraordinary General Assembly of Al Markaziyah Companies "Sinomi Centers" approved an increase in the company's capital from 4.75 billion SAR to 5.17 billion SAR, an 8.98% rise, through the capitalization of 426.58 million SAR from retained earnings. A total of 42.65 million new shares were issued, including 39.58 million bonus shares allocated to shareholders and 3.07 million shares designated for the employee stock program, aimed at motivating employees and attracting talent. The bonus shares are granted at a rate of one share for every 12 shares owned, and the shares allocated for employees represent 0.65% of the total shares. The assembly also approved an amendment to the article related to capital and subscription, with an approval majority exceeding 94%, and the shareholder attendance rate was 59.79%.
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