Al Baha shareholders to vote on capital hike via SAR 120 mln rights issue on Feb. 21

31/01/2022 Argaam

Al Baha Investment and Development Co.'s shareholders will vote on increasing capital via SAR 120 million rights issue, during the extraordinary general assembly meeting to be held on Feb. 21, according to a bourse filing.

 

The capital increase is aimed to enable the company to finance and implement its future plans and projects, and expand its various activities in addition to reducing losses.

 

Eligibility to the rights shares will be to shareholders who are registered in the shareholders' registry at the Securities Depository Center (Edaa) as of the closing of the second trading day after the EGM date, which will be determined by the company's board of directors at a later date.

 

Moreover, they will vote on appointing an auditor for Q2, Q3, 2022 and Q1 2023 financials, and determine its fees. 

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