Wafrah for Industry and Development Co. — Capital/Financing Update 2021

May 23, 2021

Wafrah for Industry and Development Co. announces its Board of Directors recommendations to increase the Company’s capital by offering rights issue shares

2100 · 23/05/2021 09:23:12 · Announcement #63479 · View on Saudi Exchange

Wafrah for Industry and Development Co. announces its Board of Directors recommendations to increase the Company’s capital by offering rights issue shares

Element List	Explanation
Introduction	Wafrah for Industry and Development Co. announces its Board of Directors recommendations to increase the Company’s capital by offering rights issue shares
Date of Board Meeting	2021-05-22 Corresponding to 1442-10-10
Target Amount	SR 154,340,700
Reasons for the increase	Wafrah for Industry and Development is considered to be one of the food companies that has accumulated an extended experience in the food processing sector for about 27 years.

Believing in the Kingdom Vision 2030, and counting on the Governmental help for national products, Wafrah Co. needs to increase its capital so as to expand its activities , to automate its production lines, and utilize its well-known logo to cover all the regions of the Kingdom which is expected to maximize its profits and leads it to fulfil its goals. Eligibility date Shareholders holding shares on the date of the Extraordinary General Assembly meeting in which capital increase through the issuance of right issues was resolved whose names so 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 General Assembly's Meeting. Approvals Approvals of the relevant official authorities and the approval of the General Extraordinary Assembly of the company Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA Will be decided later Additional Information Announcements will be made later when a financial advisor is appointed, and when submitting the capital increase request file to the Authorities, and whenever a future developments occurs.

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.