Axelerated Solutions Get Saudi Regulator's Nod for Capital Increase
Axelerated Solutions for Information and Communication Technology (SASE:9637) secured approval from Saudi Arabia's Capital Market Authority to increase its capital by issuing one bonus share for every one existing share held by shareholders. The information technology services company's capital will increase to 56 million Saudi riyals from 28 million riyals through a transfer of 28 million riyals from the retained earnings account, according to a Thursday release. The company will hold its extraordinary general assembly within six months to fulfill all regulatory requirements.
Axelerated Solutions for Information and Communication Technology (SASE:9637) secured approval from Saudi Arabia's Capital Market Authority to increase its capital by issuing one bonus share for every one existing share held by shareholders.
The information technology services company's capital will increase to 56 million Saudi riyals from 28 million riyals through a transfer of 28 million riyals from the retained earnings account, according to a Thursday release.
The company will hold its extraordinary general assembly within six months to fulfill all regulatory requirements.