| Element List |
Explanation |
| Introduction |
Al Samaani Factory for Metal Industries Company announces the recommendation of the Board of Directors to increase the company's capital through the issuance of right issues as follows: |
| Date of Board Meeting |
2021-01-03 Corresponding to 1442-05-19 |
| Target Amount |
150,000,000 SAR |
| Reasons for the increase |
To enable the company to implement its strategic and operational plans and to support the expansion of logistics services. |
| Eligibility date |
Shareholders holding shares on the date of the Extraordinary General Assembly meeting in which capital increase through the issuance of right issues was resolved whose names so appear in the register of the Issuer's Shareholders at the Depository Center at the end of the second trading day following the date of the General Assembly's Meeting. |
| Approvals |
Approvals of the relevant official authorities and the extraordinary general assembly. |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA |
The announcement will be made later when a financial advisor is appointed to manage the subscription for priority rights shares, and also will be announced later when submitting the capital increase application file to the Capital Market Authority and when there are any future developments in this regard. |
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