1 Article Before Amendment Article After Amendment
Chapter Two: Capital and Shares:
Article Seven: Capital The Company capital has been determined to
be Six million and three hundred thousand (6,300,000) Saudi Riyals, divided into Six hundred and thirty thousand nominal shares of equal value. The value of each one is ten (10) Saudi Riyals and all of them are ordinary cash shares.
The Company capital has been determined to be Twelve million and six hundred thousand (12,600,000) Saudi Riyals, divided into one million and two hundred sixty thousand (1,260,000) nominal shares of equal value. The value of each one is ten (10) Saudi Riyals and all of them are ordinary cash shares.
Chapter two: Capital and Shares:
Article Eight: Subscription to Shares The shareholders have subscribed to all the
capital shares amounted to six hundred and thirty thousand (630,000) fully paid shares the value of which is six million and three hundred thousand (6,300,000) Saudi Riyals.
The shareholders acknowledge their joint responsibility in their private funds towards third parties that they had distributed the shares among themselves and they have fulfilled the Company’s capital before conversion. Regarding the capital increase amounted to five million and eight hundred thousand (5,800,000) Riyals, it has been done through transferring five million and eight hundred thousand (5,800,000) Riyals from the attained profit balance according to the Company’s auditor report (AlKharashi & Co.
certified Accountants & Auditors) issued in this regard on 26/05/2021
The shareholders have subscribed to all the capital shares amounted to one million and two hundred sixty thousand (1,260,000) shares as follows:
- Six hundred and thirty thousand (630,000) original shares fully paid amounted two six million and three hundred thousand (6,300,000) Saudi Riyals. The shareholders acknowledge their joint responsibility in their private funds towards third parties that they had distributed the shares among themselves and they have fulfilled the Company’s capital before conversion.
- Six hundred and thirty thousand (630,000) new fully paid shares amounted to six million and three hundred thousand (6,300,000) Saudi Riyals resulting from the increase in the Company’s capital amounted to six million and three hundred thousand (6,300,000) Riyals, it has been done through transferring six million and three hundred thousand (6,300,000) Riyals from the attained profit balance according to the Company’s auditor report (Ibrahim Ahmed
2 Al Bassam & Co. Certified Accountants) issued in
this regard on 14/02/2023.
