Cinema Centers Assembly approves capital boost
The Extraordinary General Meeting of Al Muqrin Centers "Sinoma Centers" approved the company's capital increase from 4.75 billion Riyals to 5.17 billion Riyals, representing an 8.98% increase. The increase was financed through capitalizing 426.58 million Riyals from retained earnings. The increase involved the issuance of 42.65 million shares, of which 39.58 million shares were granted to shareholders at a ratio of one share for every 12 shares held, and 3.07 million shares allocated to the Employee Share Program to motivate and retain talented staff. Free shares will be granted to shareholders registered at the end of the meeting date, with the proceeds from fractional shares to be distributed to eligible shareholders within 30 days. The shareholder approval for both the capital increase and the Employee Share Program was highly favorable, with approval rates of 99.12% and 94.98%, respectively.
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