The Saudi Investment Bank declared today that its Board of Directors has approved the recommendation to the Extraordinary General Assembly, and after obtaining the official approval of the regulatory authorities, to increase its capital from SAR 1,718 million to SAR 2,406 million by issuing one new share for every 2.5 outstanding shares. This will increase the total number of outstanding shares by 13.75 million. Additionally, the Bank will also distribute cash dividend at SAR 3 per share for all outstanding shares prior to the capital increase. The date of the General Assembly meeting and the eligibility for the new shares and cash dividend will be announced soon.
27/11/2005