Anaam International Holding Group’s shareholders will vote on a capital increase from SAR 15 million (1.5 million shares) to SAR 105 million (10.5 million shares) via a SAR 90 million rights issue, the company said in a bourse filing.

 

This will come during the company’s extraordinary general meeting (EGM) slated for Oct. 27, 2020.

 

The capital increase will be used in financing future projects and expansions.

 

Shareholders will also vote on articles of incorporation as regards capital, share offering, share ownership, share buyback, general meetings, committee reports and dividend payment, the statement added.

 

Key Figures of the Capital Increase

Current Capital

SAR 15 mln

Number of shares

1.5 mln shares

New Capital

SAR 105 mln

New number of shares

10.5 mln shares

Method

Rights issue of 9 million common shares

Reason

Finance expansions and future projects

Record Date

The second trading day following the extraordinary general meeting

 

Shareholders can participate and vote on the meeting agenda items as of Oct. 23, 2020 through Tadawulaty system, as per the Capital Market Authority’s (CMA) circular issued on March 16, in line with the government’s efforts to prevent the spread of coronavirus.

 

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