Rayan Advanced says selling shareholders waive right to dividends from 2022-2024

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Rayan Advanced Industrial Co. announced its supplementary prospectus, including a decision about the board of directors’ recommendation on the payment of cash dividends at SAR 7 per share for 2022 to public shareholders. This dividend will be payable in full directly after the company’s listing. Rayan will also pay a semi-annual dividend at SAR 7 per share to the public for 2023 and 2024 to public shareholders.

Selling shareholders are Hassan Ali Hassan Al-Sairafi, Rayan Hassan Ali Al-Sairafi, Mohammed Hassan Ali Al-Sairafi, Wed Hassan Ali Al-Sairafi, Reem Hassan Ali Al-Sairafi, and Sami Fahid Khader Joudeh waived their right to the dividend, to be paid for the period from 2022-2024 to cover the dividend payout to public shareholders.

The selling shareholders will also not dispose of their shares for 30 months starting from the date Rayan is listed on Nomu-Parallel Market.

Rayan added that a general assembly meeting will be held to vote on the board’s recommendation at the earliest after listing.

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