The Board of Directors of SANAM Real Estate Company held its meeting today, Monday, March 17, 2025, at 1:30 PM, during which the following resolutions were approved:
Approval of the consolidated financial statements for the fiscal year ended December 31, 2024.
Recommendation to the General Assembly to distribute free bonus shares equivalent to 5% of the authorized, issued, and paid-up capital (five shares for every one hundred shares) for the fiscal year ended December 31, 2024, bringing the capital to KD 11,025,000.
The Board of Directors reviewed the previous recommendation to increase the capital and resolved to proceed with a 100% capital increase (after adding the bonus shares).
An increase in the authorized, issued, and paid-up capital by KD 11,025,000 through the issuance of 110,250,000 shares at a nominal value of 100 fils per share, with no issuance premium. All shares will be cash contributions, bringing the total capital to KD 22,050,000, subject to regulatory approvals.
These approvals reflect SANAM Real Estate's strategic financial planning and commitment to sustainable growth and shareholder value enhancement.
