National Metal Manufacturing and Casting Company Announces the Submission of the Decrease of the Company’s Capital Application File and the Increase of the Company’s Capital by Offering Right Issues Application File to CMA

11 July 2021 09:00 AM

MAADANIYAH 2220 13.60% 18.38 2.20

Element List	Explanation
Introduction	With reference to the company’s announcement on 01/03/2021G regarding the board of directors recommendation to reduce the company's capital and a subsequent capital increase through rights issues, and the company’s announcement on 01/04/2021 G regarding an update on the recommendation of its board of directors to reduce the company's capital and subsequently increase it by way of rights issues, and the company’s announcement on 25/05/2021G regarding an update on National Metal Manufacturing and Casting Co. announcement on an update on the Recommendation of Its Board Of Directors To Reduce The Company's Capital And A Subsequent Capital Increase Through Rights Issue. National Metal Manufacturing and Casting Co .announces its submission on Friday 29/11/1442H corresponding to 09/07/2021G the application file for approval to reduce the company's capital and the application file for approval to increase the company's capital by offering of rights issue to the Capital Market Authority. Noting that Al Wasatah Al Maliah Company (Wasatah Capital) has been appointed as the financial advisor for the offering, and the company will announce later on any developments in this regard.
Date of Submitting the Application File to CMA	2021-07-09 Corresponding to 1442-11-29
Application Subject	Reducing the capital by 47,120,890 Saudi Riyals, and then increasing the capital by offering of rights issue in the amount of 120,000,000 Saudi Riyals.
Date of Announcing Board Recommendation to Decrease the Company's Capital on Tadawul's Website	2021-05-25 Corresponding to 1442-10-13
Additional Information	The approval of the Extraordinary General Assembly on the process of increasing the company’s capital by issuing of rights issue is conditional on the Extraordinary General Assembly’s approval of the proposed reduction of the capital. The company will announce any future developments in this regard in due course.

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