2011-12-25 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: The Saudi Tadawul market took a break from its year-end rally and closed even on Sunday, at 6,382 points. As the market gauge, bellwether Sabic finished flat, closing at SR96.50. Shares of Saudi Hotels Resorts declined 0.60% to SR33.30. Earlier in the day, Saudi Hotels announced its plans to demand shareholders' approval to increase the firm's share capital at the next Extraordinary General Meeting, scheduled for February 19 2012. Point number one of the EGM's agenda reads: "Seeking approval of the recommendation of the Board Members that, the company's Share Capital to be increased form SR690,060,970 to SR1bn by granting one free share to each present 2.23 shares. This awarding will increase the company's shares from 69,006,097 to 100,000,000 shares. This is equal to 44.9%." Saudi Hotels Resorts has been a top performing share in the GCC. Since March 2011, the stock gained 34% in value.  

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