Financial Development

The National Gypsum Company - a 100% Saudi joint stock company, incorporated with the Royal Decree no. 5/5/583 in 1st of Rajab 1376 H. , signed by King Saud (May Allah has mercy on his soul) and with the cabinet resolution no. 232 dated 4/11/1375, signed by King Faisal (May Allah has mercy on his soul), and with a group of devoted men.

Purpose of the company:
Production and manufacturing of gypsum excavated from the company’s concession area, trading in gypsum and its derivative materials, industries and products that are chemically or instrumentally derived from gypsum, with a capital of 12 million Saudi Riyals, the value of one share is 100 Riyal, number of shares 120,000. The capital was raised later to36 million Saudi riyals in the assembly meeting on Tuesday 19 Jumada awwal 1396, corresponding to 18 May 1976. No. of shares 360,000 shares, nominal value of the share is 100 riyal, the first payment of the increase was 50% ,  240 thousand shares (24 million riyals ) and the rest was covered in 1st of Moharram 1397 Hand the paid capital became 24 million riyals. In 1408 H, the budget was amended from Hijri calendar to Gregorian calendar. The last Hijri report was issued in 1408, while the first Gregorian was issued in 1/1/1409 to 3/6/1410 by amending the fiscal year from 1/1/1990 , 17 months and the comparisons between 1408 and 1409 H.
In 8/3/1993 corresponding to 15/9/1413 the capital was raised from 73 to 144 million riyal. Report of the Board of Directors in 1994, value of the share is 100 riyal, giving one share to each share , posting 18 million from the reserve to the capital account as a first payment of 25% , the rest of 75% are postponed as needed. In the board meeting of 9/1/1994 it was decreed to pay 25% to be posted from the reserve and 50% from general reserve and statutory reserve to to pay the remainder of the capital increase (paid 18 million in 93 for the capital to become 90 million, paid 18 million in 94 for the capital to become 108 million, paid 36 million in 95 increasing the capital to 144 million riyal) no. of shares 1,440,000 shares. In 1988 the value of one share was split from 100 to 50 riyal.
The capital was also raised from 144 million to 200 million in 19 / 3 / 2001 corresponding to 24/ 12/143.  Board of directors report no. 42 on the year 2000, at 3.5 shares to every 9 shares, the nominal value is 50 riyal, number of shares is 4 million shares. On 6/3/2003 in the boards’ report number 44 for 2002, the capital was raised from 200 to 237.5 million riyal, at 1.5 shares to every 8 shares, nominal value is 50 riyal, No of shares 4,750,000 . In 2006 the share value is decreased from 50 riyals to 10 riyals . In 1 April  2007 corresponding to 13/3/1428 , Board’s report number 48 for 2006, the capital was raised from 237.5 million to 316,666,667 riyal at 1 share for every 3 shares, nominal value is 10 riyal, 31,666,667 shares.