| Element List |
Explanation |
| Introduction |
Gulf Union Al Ahlia Cooperative Insurance Co. Announces the Board's Recommendation for Capital Increase by Offering Rights Issue |
| Date of Board Meeting |
2021-10-19 Corresponding to 1443-03-13 |
| Target Amount |
229,474,640 Saudi Riyals |
| Reasons for the increase |
Supporting the company's future plans, Enhancing solvency margin position and Increasing Investment Income. |
| 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 |
The Capital Increase is Subject to Saudi Central Bank and Capital Market Authority and other regulatory authorities approvals in addition to the approval of the company’s Extraordinary General Assembly |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA |
Announcements will be made later upon appointing a financial advisor for offering, as well as upon submitting the request for capital increase to the Capital Market Authority for approval. |
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