Riyadh — Mubasher: The board of Amwaj International Company decided to cancel a previous recommendation to increase the capital from SAR 60 million to SAR 80 million, according to a bourse filing.
The proposed increase of SAR 20 million was originally intended to be executed through the issuance of bonus shares to shareholders.
The board’s decision to retract the proposal was resolved during the 23 August 2026 meeting, yet it was first announced on 13 April 2025.
The resolution further follows a comprehensive review of the company’s latest annual financial statements and current financial position.
Under the requirements of the Rules on the Offer of Securities and Continuing Obligations, the board determined that the balance of retained earnings available for capitalization is no longer sufficient to support the planned capital hike.
The original plan involved the capitalization of SAR 20 million from retained earnings. However, following the reassessment of the company's financial changes, the board opted to terminate the recommendation.
