Salama Cooperative Insurance Co. Announces an update on Salama Cooperative Insurance Co. Announces the Board's Recommendation to Increase the Capital by Offering Right Issues
| Element List | Explanation |
|---|---|
| Introduction | Salama Cooperative Insurance announces received on Sunday 25- 11-1445 AH corresponding to 02-06-2024 the approval from the Insurance Authority to increase the company's capital by (100 million SAR), the capital after the increase will be (300 million SAR) through the rights issue.
The letter also included the IA's no objection to amending the capital article in the company's articles of association according to the new capital, noting that the approval of the Insurance Authority is valid for a period of one year from its date. |
| Previous Announcement | Salama Cooperative Insurance Co. Announces the Board's Recommendation to Increase the Capital by Offering Right Issues |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-03-18 Corresponding to 1445-09-08 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Not Applicable |
| Reasons For The Delay on The Date of The Event Previously Announced | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no costs associated with the event during the current period, and the financial impact, if any, will be announced later. |
| Delay consequences on the Company’s financial results | Not Applicable |
| Additional Information | None |
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