Saudi Arabian Amiantit Co. headquarters
Saudi Arabian Amiantit Co.’s shareholders will vote on increasing capital through a SAR 346.5 million rights offering, during an extraordinary general meeting (EGM) to be held on Feb. 20, the company said in a statement to Tadawul.
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Capital Increase Details |
|
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Current Capital |
SAR 99.00 mln |
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Number of Shares |
9.90 mln |
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New Capital |
SAR 445.5 mln |
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New Number of Shares |
44.55 mln |
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Capital Hike % |
350% |
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Purpose of Capital Hike |
Financing working capital and settling some bank liabilities |
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Method |
A SAR 346.5 mln rights issue |
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Record Date |
Feb. 20, 2024 (Shareholders registered with the Securities Depository Center (Edaa) by the close of trading on the second trading day after the EGM date) |
In September 2023, the board recommended a capital increase via a rights issue worth SAR 346.5 million, to finance the working capital and settle some bank liabilities, according to Argaam's data.
On Jan. 24, the company obtained the approval of the Capital Market Authority (CMA) on the rights issue.
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