| Element List |
Explanation |
| Introduction |
Development Works Food Co. announces the board of directors' recommendation to increase the company's capital Through a rights issue |
| Date of Board Meeting |
2024-01-02 Corresponding to 1445-06-20 |
| Target Amount |
90,000,000 Saudi riyals |
| Reasons for the increase |
The company's desire to diversify and expand its activities and other activities and to make optimal use of the spread of its brands to cover all regions of the Kingdom and to achieve the company's future goals in line with its aspirations. |
| Eligibility date |
The eligibility shall be for shareholders who own shares on the day of the extraordinary general assembly that decided to increase the capital by offering priority rights shares and whose names appear in the register of shareholders of the issuer at the depository center at the end of the second trading day following the date of the assembly. |
| Approvals |
The approvals of the relevant official authorities and the extraordinary general assembly |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA |
An announcement will be made later when a financial advisor is appointed for the offering, as well as when the capital increase application file is submitted to the Capital Market Authority |
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