The Saudi Arabia Capital Market Authority has approved Lana Medical Company’s request to increase its capital from SAR 36 million to SAR 54 million by issuing bonus shares. The increase will be implemented through the issuance of one bonus share for every two existing shares held by shareholders registered in the shareholders registry at the Securities Depository Center as of the close of the second trading day after a due date to be set by the company’s board. The capital increase will be funded by transferring SAR 17,473,710 from retained earnings and SAR 526,290 from the statutory reserve, raising outstanding shares from 3,600,000 to 5,400,000 (an increase of 1,800,000 shares). An extraordinary general assembly must be held within six months of the approval, and the company is required to meet all regulatory requirements and applicable laws.
Saudi Arabia Capital Markets Authority 2025-01-15
Saudi Arabia Capital Market Authority approves Lana Medical capital increase via one-for-two bonus share issue to SAR 54 million
The Saudi Arabia Capital Market Authority approved Lana Medical Company's capital increase from SAR 36 million to SAR 54 million via bonus shares, issuing one bonus share for every two existing shares. This involves transferring SAR 17,473,710 from retained earnings and SAR 526,290 from the statutory reserve, raising outstanding shares from 3,600,000 to 5,400,000. An extraordinary general assembly must occur within six months, and the company must comply with all regulatory requirements.