Arabian Pipes Co. — Capital/Financing Update 2021

Dec 5, 2021

Arabian Pipes Co. Announces the Submission of the Decrease of the Company’s Capital Application File and the Increase of the Company’s Capital by Offering Rights Issue Application File to CMA

2200 · 05/12/2021 08:10:36 · Announcement #65836 · View on Saudi Exchange

Arabian Pipes Co. Announces the Submission of the Decrease of the Company’s Capital Application File and the Increase of the Company’s Capital by Offering Rights Issue Application File to CMA

Element List

Explanation

Introduction

With reference to the company’s announcement on 28-10-1442H Corresponding to 09-06-2021G regarding the board of directors’ recommendation to reduce the company's capital by an amount of (300,000,000) Saudi riyals and then increasing the capital by offering of rights issue in the amount of (300,000,000) Saudi riyals, Conditional on obtaining the approval of the relevant official authorities and the extraordinary general assembly.

Arabian Pipes Co. announces its submission on Thursday 27-04-1443H Corresponding to 02-12-2021G 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. Date of Submitting the Application File to CMA 2021-12-02 Corresponding to 1443-04-27 Application Subject Reducing the capital by (300,000,000) Saudi riyals, and then increasing the capital by offering of rights issue in the amount of (300,000,000) Saudi riyals. Date of Announcing Board Recommendation to Increase the Company's Capital on Tadawul's Website 2021-06-09 Corresponding to 1442-10-28 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.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.