Al Khodari’s BOD recommends SAR 500 million capital raise through a rights issue

The BOD of Abdullah A. M. Al Khodari Sons Company recommended in its meeting held on Monday November 24, 2014, to raise the Company’s capital through the issuance of SAR 500 million rights issue shares, subject to obtaining the approvals of the competent regulatory authorities and the extraordinary general assembly, the Company said in a filing to Tadawul.

The Company also stated that the objective of the capital raise is to expand the Company’s business and fund its expected projects.

Eligibility for the rights shall be for shareholders registered in the Company’s shareholders registry at the end of the trading day on which the extraordinary GA will be held.