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Addendum Announcement from Allianz Saudi Fransi Cooperative Insurance Co. regarding the recommendation of the Board of directors to increase the company's capital through offer of rights issue

ALLIANZ SF 8040 19.70% 19.44 3.20

Element List Explanation
Date of posting the previous announcement on Tadawul’s website 2018-06-05 Corresponding to 1439-09-21
Subject of the previous announcement The Board of directors of Allianz Saudi Fransi Cooperative Insurance Co. has recommended an increase in the company's capital through offer of rights issue.
Change Details on development Further to the announcement of Allianz Saudi Fransi Cooperative Insurance Company on 21/09/1439H corresponding to 05-06-2018G regarding the recommendation of the Board of Directors to increase the Company’s capital through rights issue with a total value of SAR 400,000,000, subject to the approval of the regulatory authorities and the Extraordinary General Assembly, the Company announces to its shareholders that it received the Saudi Arabian Monetary Authority (SAMA) non-objection, through the letter no. 89/18551 dated 22/03/1440H corresponding to 30/11/2018G, on the Company's proposed capital increase from SAR 200,000,000 to SAR 600,000,000 through rights issue, subject to obtaining all related regulatory approvals.

The Company will announce subsequently the submission of the application to the Capital Market Authority (CMA), and any other significant future events in this regard.

Financial Impact on the change No financial impact at this stage, however, the completion of rights issue transaction will increase the Company's capital from SAR 200,000,000 to SAR 600,000,000.

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