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Cinema Centers to raise capital to 5.17B riyals
The Arab Centers Company (Senyomi Centers) has decided to increase its capital from 4.75 billion riyals to 5.17 billion riyals, a rise of 8.98%. This was accomplished through the capitalization of 426.58 million riyals from retained earnings, and the issuance of 42.65 million new shares, including 39.58 million bonus shares to shareholders and 3.07 million shares allocated to the employee stock program. The bonus shares are distributed at a ratio of one share for every 12 shares owned, with the Board of Directors authorized to determine the program's terms. Shareholders registered by the end of the meeting day are entitled to receive the free shares. The amendments to the company's bylaws regarding capital and shareholder rights coverage were approved. Shareholders expressed significant approval for the capital increase and stock program operations. The meeting was conducted electronically, with a participation rate of 59.79%.
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