BAAN Holding Group Co. — Capital/Financing Update 2021

Jun 20, 2021

Abdul Mohsen Al Hokair Group for Tourism and Development announces the publication of the shareholders’ circular to decrease the capital and the publication of the prospectus to increase the capital through right issuance

1820 · 20/06/2021 15:39:40 · Announcement #63814 · View on Saudi Exchange

Abdul Mohsen Al Hokair Group for Tourism and Development announces the publication of the shareholders’ circular to decrease the capital and the publication of the prospectus to increase the capital through right issuance

Element List

Explanation

Announcement Detail

With reference to the approval of the Capital Market Authority on June 09, 2021 to reduce the capital of Abdul Mohsen Al Hokair Group for Tourism and Development from (550,000,000) Saudi riyals to (343,000,000) Saudi riyals, and then increase the capital from (343,000,000) Saudi riyals to (650,000,000) Saudi riyals through the issuance of rights shares, and also with reference to the company’s announcement on June 17, 2021 of inviting its shareholders to attend the extraordinary general assembly meeting that includes reducing and increasing the company’s capital.

Abdul Mohsen Al Hokair Group for Tourism and Development Company would like to provide information related to the capital reduction and increase before the Extraordinary General Assembly, which is scheduled to be held, at 7:30 pm on Thursday, July 8, 2021, corresponding to Dhul Qi’dah 28, 1442 through modern technology, using Tadawul System, in order to approve the capital reduction and increase and the amendment of the articles of association, the company would like to announce to its shareholders and the public the availability of access to the shareholders’ circular regarding the capital reduction, and the prospectus for the rights issue, which is published on the website of the Capital Market Authority and the two annexes in this announcement.

Noting that the capital increase through rights issuance requires the approval of the extraordinary general assembly meeting, which includes reducing the company's capital Attached Documents     

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.