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Cinemacity Approves Capital Increase
The Arab Centers (Senomie Centers) Company has approved an increase in its capital from 4.75 billion SAR to 5.17 billion SAR, approximately an 8.98% increase. This was achieved through the capitalization of 426.58 million SAR 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 free shares are granted at a rate of one share for every 12 shares owned, aimed at motivating employees and attracting talent, with the Board of Directors authorized to set the terms of the program. The increase was executed with the approval of the majority of shareholders (99.12%) and a quorum attendance rate of 59.79%. Additionally, the company's Articles of Association were amended to reflect the capital increase, with the bonus shares to be added to shareholders' accounts before the start of trading on Wednesday, September 30.
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