THE SAUDI BRITISH BANK (SABB) ANNOUNCES THE DEPOSIT OF THE PROCEEDS OF THE FRACTION SHARES RESULTING FROM THE CAPITAL INCREASE OF SABB IN THE ACCOUNTS OF THE ELIGIBLE SHAREHOLDERS
| Element List | Explanation |
|---|---|
| Introduction | In reference to the announcement made by the Saudi British Bank (“SABB”) on 16/6/2019 regarding the effectiveness of the resolution to merge Alawwal bank in SABB (the “Merger”), SABB would like to announce that it has completed the sale of the fraction shares resulting from the capital increase of SABB for the purpose of the Merger (the “Fraction Shares”) and it has deposited the proceeds of such sale in the accounts of the eligible Shareholders, as follows: |
| Sold fractional stocks End date | 2019-07-02 Corresponding to 1440-10-29 |
| Number of Sold Shares | 1,527 |
| Fractional Stocks Sales Revenue | 60,829.12 |
| Average Selling Price per share | 39.84 |
| Date of depositing fractional stocks revenue in the bank accounts of eligible investors | 2019-07-08 Corresponding to 1440-11-05 |
| Name/Method of contact the delegate for distributing the fractional stocks sales revenue | The proceeds of shares fractions sale will be distributed by SABB, and will deposit the proceeds from the sale of the Fraction Shares in the bank accounts associated with the eligible shareholders’ investment accounts. Eligibility is to the shareholders owning shares in Alawwal bank on 13/10/1440H (corresponding to 16/6/2019G), and who were registered in Alawwal bank’s share registry at the Depository Center by the end of the second trading period following that date.
For Further information, please contact the Share Registry Unit at SABB Tel No. 0112764140/ 0112764141, Fax: 011 2763414, P.O. box 9084 Riyadh 11413 or via e-mail [email protected] |
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