Takween Advanced Industries Co. — Capital/Financing Update 2015

Dec 17, 2015

The Board of directors of Takween Advanced Industries has recommended an increase in the company's capital through offer of rights issue.

1201 · 17/12/2015 15:58:10 · Announcement #40429 · View on Saudi Exchange

The Board of directors of Takween Advanced Industries has recommended an increase in the company's capital through offer of rights issue.

Takween Advanced Industries announced that the Board of directors has recommended on his meeting on 17-12-2015 an increase in the company's capital through offering a rights issue with a total value of SAR 600 Millions.

The rights issue is limited to the shareholders who are registered in the shareholders register at the close of trading on the extraordinary general assembly day, which will be determined later by the company after obtaining the regulatory approvals.

The price and number of offered shares will be determined by the company during the extraordinary general assembly. The reasons for recommendations are:to optimize the capital structure and to reduce the overall debit position

Board of Directors agreed to assign HSBC Saudi Arabia Limited, a licensed authorised person, as its financial advisor to manage the offering rights issue

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.