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Ash-Sharqiyah Development Co. — Capital/Financing Update 2020
Dec 30, 2020
53477_rns_2020-12-30_a80987b7-5750-4e6f-b32b-b95a11c2b833.html
Capital/Financing Update
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ash-sharqiyah Development Company announces the recommendation of the Board of Directors to increase the company's capital through a rights issue offering shares
6060 · 30/12/2020 16:04:17 · Announcement #61506 · View on Saudi Exchange
ash-sharqiyah Development Company announces the recommendation of the Board of Directors to increase the company's capital through a rights issue offering shares
| Element List | Explanation |
|---|---|
| Date of Board Meeting | 2020-12-30 Corresponding to 1442-05-15 |
| Target Amount | 225.000.000 r.s. |
| Reasons for the increase | To enable the company implementing its strategic and operational plans and support its future activities |
| Eligibility date | Provided that the eligibility of the shareholders who own the shares on the day of the extraordinary general assembly that decided to increase the capital by offering shares of priority rights and whose names 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 assembly |
| Approvals | Approvals of relevant official bodies and extraordinary general assembly |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA | It will be determined later |
| Additional Information | The announcement will be made later when a financial advisor is appointed for the offering, as well as when submitting the capital increase request file to the Authority and when there are any future developments in this regard |
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.