Logo of Saudi Arabian Amiantit Co.
Saudi Arabian Amiantit Co.’s shareholders will vote on increasing capital through a SAR 346.5 million rights offering, during the extraordinary general meeting (EGM) scheduled for May 11, the company said in a statement to Tadawul.
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Capital Hike Details |
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Current Capital |
SAR 99 mln |
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Current Number of Shares |
9.9 mln |
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Percentage Increase |
350% |
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New Capital |
SAR 445.5 mln |
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New Number of Shares |
44.6 mln |
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Rights Issue Details |
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Offer Shares |
34.65 mln |
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Offer Price |
SAR 10/share |
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Issue Size |
SAR 346.50 mln |
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Eligibility Ratio |
Each listed shareholder shall have the right to subscribe to nearly 3.5 rights for each owned share |
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Record Date |
May 11, 2023, including shareholders who are registered with Edaa by the close of trading on the second trading day after this date. |
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Rights Issue Proceeds |
Purchase of spare parts for maintenance and production |
SAR 21.44 mln |
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Working capital |
SAR 311.06 mln |
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Offering costs |
SAR 14.00 mln |
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Total |
SAR 346.5 mln |
The meeting’s agenda includes a number of other items such as voting on discharging the board members from liability for 2022 and disbursing SAR 1 million as remuneration to the board members for the same year.
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