THE SAUDI NATIONAL BANK (SNB) ANNOUNCES THE DEPOSIT OF THE PROCEEDS OF THE FRACTION SHARES RESULTING FROM THE CAPITAL INCREASE OF SNB IN THE ACCOUNTS OF THE ELIGIBLE SHAREHOLDERS
| Element List | Explanation |
|---|---|
| Action Type | Increase |
| Introduction | Pursuant to the announcement made by the Saudi National Bank (“SNB”) on 19/08/1442H (corresponding to 1 April 2021G) regarding the effectiveness of the resolution to merge Samba Financial Group in the National Commercial Bank (the “Merger”), SNB would like to announce that it has completed the sale of the fractional shares resulting from the capital increase of SNB for the purpose of the Merger (the “Fractional Shares”) and it has deposited the net cash proceeds of such sale in the accounts of the eligible Shareholders proportionate to their respective fractional entitlements, as follows: |
| Fractional Shares Selling End Date | 2021-04-27 Corresponding to 1442-09-15 |
| Number of Sold Shares | 16392 |
| Fractional Shares Sales Revenue | 883,528.8 |
| Average Selling Price per share | SAR 53.8 |
| Date of Depositing Fractional Shares Sales Revenue in the Bank Accounts of Eligible Investors | 2021-04-29 Corresponding to 1442-09-17 |
| Name of /Method of Contacting the Entity in Charge of Distributing the Fractional Shares Sales Revenue | The proceeds of the Fractional Shares sale were distributed by SNB which shall be deposited in the bank accounts associated with the eligible shareholders’ investment accounts. Eligibility is to the shareholders owning shares in Samba Financial Group on 19/08/1442H (corresponding to 1 April 2021G), and who were registered in Samba Financial Group’s share registry at the Depository Center by the end of the second trading period following that date.
As for the shareholders whose investment accounts data are not available or their account details are incomplete, they can visit the nearest branch of the Saudi National Bank and receive their entitlements after 17-09-1442H as of Um Al Qura, corresponding to 29-04-2021G.
For Further information, please contact the Shareholders Affairs Department at SNB Tel No. 0112999666, or via e-mail [email protected]. |
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