Zahrat Al Waha for Trading Co announces its capital expansion plan for the year 2023, at a value of 70 million SR

Zahrat Al Waha for Trading Co. announces its capital expansion plan for the year 2023, at a value of 70 million SR.

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Zahrat Al Waha for Trading Co. announces its capital expansion plan for the year 2023, at a value of 70 million SR, funded by the company’s cash, with the aim of diversifying sources of income, reducing costs, increasing profitability and financial solvency, as represented in the following:

  • One production line for PET (preform) with its accessories to increase production capacity and diversify the company's products.
  • Two production lines for Plastic bottle caps with their accessories to increase production capacity to meet increased market demands.
  • Printing and packaging materials sector includes:
  • 1
    Land.
  • 2
    Buildings and constructions.
  • 3
    Two integrated printing lines with their accessories, with an annual production capacity of 3,180 tons.
  • 4
    Two production lines for packaging materials for multi-product and multi-use with their accessories, with an annual production capacity of 10,850 tons.

The company aims through the sector of printing and packaging materials to diversify sources of income, maximize profitability, and increase financial solvency.

All production lines of the capital expansion plan have been purchased from major European companies.

Commercial production of the preform production line and two caps production lines are expected to start during the third quarter of this year 2023, while the commercial production of the printing and packaging materials sector is expected to start during the fourth quarter of 2023.

The company relied on financing its capital expansion on self-financing from the company’s cash to reduce financing costs. The aim of these expansions is to increase the company’s market share in the plastic sector in the domestic and foreign markets, diversify and increase sources of income, increase the company’s profitability, increase the company’s financial solvency, and maximize shareholder rights.

Zahrat Al Waha Trading Company announces the recommendation of the company’s board of directors on 10 Shaaban 1444 corresponding to 2 March 2023, to distribute cash dividends to shareholders for the year 2022

Zahrat Al-Waha Trading Company announces the recommendation of the company’s board of directors on 10 Shaaban 1444 corresponding to 2 March 2023, to distribute cash dividends to shareholders for the year 2022.

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Date of the board’s decision: 02-03-2023 Corresponding to 10-08-1444

The Total amount distributed: 13,500,000 SR

Number of Shares Eligible for Dividends: 22,500,000 shares

Dividend per share: 60 Hallah

Percentage of Dividend to the Share Par Value (%):  6%

Eligibility date: Eligibility of profits for the shareholders of the company registered with the Securities Depository Center (Tadawul) at the end of the second trading day following the day of the company’s general assembly, and the date of the general assembly will be announced later

Distribution Date: It will be announced later

Additional Information: The General Assembly will be invited to vote on a distribution of profits for year 2021

Zahrat Al Waha for Trading Co announces the renewal of the credit facilities agreement that is in line with the Sharia regulations from Alinma Bank

Zahrat Al Waha for Trading Co. announces the renewal of the credit facilities agreement that is in line with the Sharia regulations from Alinma Bank.

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Agreement renewal date: 19-01-2023 Corresponding to 26-06-1444

Agreement amount: 60,000,000 SR.

Agreement duration: from 19-01-2023 to 31-10-2023

Guarantees offered for the agreement: Order Notes by the company with the total value of the facilities.

Agreement objective: Opening LCs for purchase raw materials.

Related Parties: There are no related parties.

Additional information: The limit for opening short-term credits and facilities was renewed to finance working capital with the same value of 60,000,000 SR.