Saudi Gazette report

RIYADH — The Capital Market Authority (CMA) approved the capital increase request of Saudi Arabian Oil Company "Saudi Aramco" through the issuance of bonus shares.

The CMA has issued its resolution approving Saudi Aramco’s request to increase its capital from SR60 billion to SR75 billion through issuing one bonus share for every 10 existing shares owned by the shareholders.

The beneficiaries will be shareholders who are registered in the shareholders registry at the Securities Depository Center as of the closing of the second trading day after the due date, which will be determined later by the company’s board of directors.

The increased amount will be paid by transferring an amount of SR15 billion from the “Retained earnings" account to the company’s capital. Consequently, the company’s outstanding shares will be increased from 200,000,000,000 to 220,000,000,000 shares, with an increase of 20,000,000,000 shares.

The extraordinary general assembly of Saudi Aramco shall be held within six months from this approval date and the company shall satisfy all regulatory requirements and applicable laws, it was stated in the CMA directive.