Mayar Holding to vote on issuing SAR-denominated convertible sukuk on July 3

Logo of Mayar Holding Co.

Mayar Holding Co.’s shareholders will vote on the board of directors’ recommendation to issue SAR-denominated financial instruments convertible into shares, with a nominal value of SAR 500 million, through a 24-month program, during the extraordinary general meeting (EGM) scheduled for July 3, according to a statement to Tadawul.

 

The program will include a series of separate issues to be publicly offered in the market, after obtaining all the necessary approvals, provided that the maximum number of the new shares is SAR 1 billion with a nominal value of SAR 0.50.

 

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The board of directors will be authorized to determine the return of the sukuk that will be issued and the conversion price in addition to any other relevant terms.

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