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Correction announcement from Middle East Paper Co. in regard to the date of the board's recommendation to increase the Company’s capital by issuing new shares with suspension of preemptive rights

1202
MEPCO
0.86 %
1445/03/13     28/09/2023 16:03:52

Element ListExplanation
Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul's Website 2023-09-03 Corresponding to 1445-02-18
Hyperlink to the Previous Announcement Click Here
Incorrect statements in the previous announcement In the announcement published on 3 September 2023G, there was a reference to the "Date of Announcing Board Recommendation to Increase the Company's Capital" on Tadawul's Website" to be on 14-01-1445H corresponding to 01-08-2023G.
Correct Statement The Board of Directors of the company has recommended by circulation on 13-02-1445H corresponding to 29-08-2023G to increase the Company's capital by issuing nineteen million nine hundred ninety-nine thousand nine hundred ninety-nine (19,999,999) new ordinary shares with a nominal value of ten (10) Saudi Riyals per share, at an offer price of thirty-one and a half (31.5) Saudi Riyals per share and with a total offer value of six hundred twenty-nine million nine hundred ninety-nine thousand nine hundred and sixty-eight Saudi Riyals and fifty Halalas (629,999,968,50) with suspension of preemptive rights of 30% of the Company’s current capital, which will be fully subscribed by the Public Investment Fund ("PIF"). PIF’s ownership will be 23.08% of the Company’s capital, after the capital increase.

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.

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Last Price 40.95
Net Change 0.35 (+0.86%)
Value Traded (Sar) 8,439,570.7
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