News 2008

March 2008

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Samba's extraordinary General Assembly Meeting Approved the Bank's Capital Raise

Having reviewed its meeting agenda and considered the Board's recommendations, Samba's Extraordinary General Assembly Meeting held at 4:00 p.m., on Wednesday 27 Safar 1429H (Corresponding to 5 March 2008) at Four Seasons Hotel In Riyadh, has approved the Board's recommendations to increase the Bank's capital by 50%, from SR 6 Billion (600 million shares) to SR 9 billion (900 million shares), by granting 1 bonus share for every 2 shares held by the shareholders who are registered in the Bank's records by the end of the trading session on Wednesday 27 Safar 1429H (Corresponding to 5 March 2008). The increase will be effected through transfer from the retained earnings, and it aims at meeting the requirements of the Bank's continuous growth as well its local and regional expansions. Further, the Extraordinary General Assembly Meeting resolved to revise Article 6 of the Bank's Article of Association so that the Bank's capital will become SR 9 billion distributed over 900 million shares at a nominal value of SR 10 per share.