| Element List |
Explanation |
| Introduction |
With regard to the company’s announcement dated 06/10/220 AD corresponding to 19/02/1442 AH of the Board of Directors’ recommendation to Reduce the Company's Capital, and increasing share capital with 350 million SR by via rights Issue. After discussing the Rights Issue with financial advisor, the board of directors approved on 16/06/2021 AD corresponding to 06/11/1442 AH, to amend its recommendation to the Extraordinary General Assembly regarding the increase of the company’s capital via right issue and change the offering to be 420 million Saudi riyals instead of 350 million Saudi riyals. |
| Previous Announcement |
The Board of Directors’ recommendation to Reduce the Company's Capital, and increasing share capital via rights issue. |
| Date of Previous Announcement on Tadawul's Website |
2020-10-06 Corresponding to 1442-02-19 |
| Percentage of fulfilled achievement |
Not applicable |
| Event's Expected Completion Date |
3rd quarter 2021 |
| Reasons for Exceeding the Announced End Date |
Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
Increase in in the offering related expenses by 900 thousand Saudi Riyals due to the increase in the offering size |
| Impact of the Delay on the Company's Financial Results |
Not applicable |
| Additional Information |
This recommendation will take legal effect following the completion of the proceedings in accordance with the by-laws of the Company and the Companies Law including obtaining the approvals of the extraordinary general assembly of the shareholders and other related government authorities |
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