Mohammed Hasan AlNaqool Sons Co. Announces an update on Announcing Mohammed Hassan Al Naqool Sons Company's recommendation to increase the company's capital by granting shares
| Element List | Explanation |
|---|---|
| Introduction | Muhammad Hassan Al-Naqool Sons Company announces that, in addition to its announcement published on the Saudi Stock Exchange (Tadawul) website on August 25, 2021, regarding the Board of Directors’ recommendation to increase the company’s capital by granting free shares, the company reports that the Board of Directors decided in the meeting held on 2021/ 09/11 AD Amending the Board of Directors’ recommendation to the Extraordinary General Assembly to increase the company’s capital through a rights issue as follows:
The total amount to be obtained: 58,000,000 Saudi riyals Capital before the increase: 29,000,000 Saudi riyals Capital after the increase: 87,000,000 Saudi riyals Number of shares before the increase: 2,900,000 shares Number of shares after the increase: 8,700,000 shares Reasons for the increase: To enable the company to implement its strategic and operational plans and support its future expansions Eligibility date: provided that the eligibility is for the shareholders owning the shares on the day of the extraordinary general assembly which decided 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: The capital increase is conditional on the approvals of the relevant official authorities and the extraordinary general assembly An announcement will also be made at a later time when a financial advisor is appointed to manage the subscription to the rights issue. An announcement will also be made when the capital increase request file is submitted to the Capital Market Authority or when there are any future developments in this regard. |
| Previous Announcement | Announcing Mohammed Hassan Al Naqool Sons Company's recommendation to increase the company's capital by granting shares |
| Date of Previous Announcement on Tadawul's Website | 2021-08-25 Corresponding to 1443-01-17 |
| Percentage of fulfilled achievement | Do not apply |
| Event's Expected Completion Date | Do not apply |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Do not apply |
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