Riyadh – Mubasher: Digital Research Company (DRC) has received shareholder approval for a substantial 75% increase in its corporate capital during an Extraordinary General Assembly meeting held on 28 June 2026, according to a bourse filing.
The capital hike, which will be executed through the issuance of bonus shares, is designed to strengthen the company’s capital base and enhance its financial position.
Beyond the capital restructuring, shareholders ratified the financial statements for the 2025 fiscal year and approved the implementation of an employee stock program.
The centerpiece of the assembly was the approval of the Board of Directors' recommendation to raise the company’s capital to SAR 29.53 million.
This increase represents a jump in the total number of shares from 1.68 million to 2.95 million shares. To fund this expansion, the company will capitalize its entire share premium reserve of SAR 12.49 million, supplemented by SAR 158,285 from its statutory reserve.
Under the terms of the approved bonus issue, eligible shareholders will receive three bonus shares for every four shares currently held.
Eligibility is restricted to shareholders owning stock at the close of trading on the day of the Extraordinary General Assembly and who are registered with the Securities Depository Center (Edaa) by the end of the second trading day following the eligibility date.
In the event of fractional shares, the company confirmed that these will be aggregated into a single portfolio and sold at market price, with the proceeds distributed to entitled shareholders within 30 days of the allocation.
In addition to the capital hike, the assembly approved several administrative and regulatory measures. Shareholders voted to amend Articles 6 and 7 of the Company’s Bylaws to reflect the new capital structure and share subscription terms. Further amendments were made to Article 14, regarding company management, and Article 21, concerning board meetings and resolutions.
The assembly also focused on financial oversight and compensation. Shareholders approved the financial statements and board reports for the 2025 fiscal year.
Al-Luhaid & Al-Yahya Chartered Accountants (LYCA) was appointed as the external auditor for the 2026 fiscal year and the first half (H1) of 2027, with a total fee of SAR 205,000 excluding VAT.
Furthermore, the meeting approved a remuneration of SAR 511,253 for board members for their services during the 2025 fiscal year.
Looking toward future growth and retention, the assembly greenlit the establishment of an employee stock program, granting the Board of Directors full authority to manage the initiative.
In a related move, shareholders approved a 10-year retention period for 136,353 treasury shares held by the company.
