Al Khaleej Training and Education Company announces the recommendation of the Board of Directors to increase the company’s capital by offering priority rights shares.
| Element List | Explanation |
|---|---|
| Introduction | Al Khaleej Training and Education Company announces the recommendation of the Board of Directors to increase the company’s capital by offering priority rights shares. |
| Date of Board Meeting | 2021-03-30 Corresponding to 1442-08-17 |
| Target Amount | 200 million Saudi riyals |
| Reasons for the increase | The company aims to finance and implement its future plans and projects, expand its various activities and acquire assets in the field of education. |
| Eligibility date | Provided that the eligibility of the shareholders who own the shares on the day of the extraordinary general assembly that will decide to increase the capital by offering priority rights shares and whose names appear in the issuer's shareholder register at the Depository Center at the end of the second trading day following the date of the assembly |
| Approvals | Approval of the relevant official authorities and the extraordinary general assembly |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA | Messrs. / Arab National Investment Company - was appointed as the financial advisor for the offering.
The announcement will be made later when the file of the capital increase request is submitted to the Capital Market Authority, and when there are any future developments in this regard. |
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