Anaam shareholders reject capital hike via SAR 236.2M rights issue

31/07/2024 Argaam

Anaam shareholders reject capital hike via SAR 236.2M rights issue

Logo of Anaam International Holding Group

Anaam International Holding Group’s shareholders rejected the board of directors’ recommendation to increase capital by 75%, through a 472.5 million rights offering, valued at SAR 236.25 million, during the extraordinary general meeting (EGM) held on July 30, the company said in a statement to Tadawul.

 

Capital Increase Details

Current Capital  

SAR 315 mln

Number of Shares

630 mln

Nominal Value

SAR 0.5

Capital Hike (%)

75%

Method

Offering 472.5 mln shares

New Capital

SAR 551.25 mln

New Number of Shares

1.10 bln

Purpose of Capital Hike

Financing working capital, reducing lending rates, and supporting the company's future activities.
 

Additionally, shareholders rejected the remaining items listed on the agenda, the statement added.

 

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