Sadr Logistics announces compensation for rights holders of unsubscribed shares

Logo of Sadr Logistics Co.

Sadr Logistics Co. will start the distribution of compensation to rights holders, who did not use their rights to subscribe to new shares on Jan. 6, 2022, the company said in a bourse filing today, Dec. 30.

The total amount to be distributed stands at approximately SAR 16.63 million.

Al Rajhi Bank will deposit the amounts in the bank accounts of eligible investors who have not exercised their rights to subscribe to new shares and those entitled to fractional shares.

Eligible investors whose bank account data is not available or incomplete should visit the company’s head office or contact investor relations department.

Earlier this month, the company’s shareholders approved increasing capital from SAR 25 million to SAR 175 million through a rights issue worth SAR 150 million during the extraordinary general assembly meeting held on Dec. 1, according to data available with Argaam. 

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