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Saudi Cable Company announces the Board's Recommendation to Increase the Capital by Offering Right Issues
2110
SAUDI CABLE
-0.29
%
1445/11/01 09/05/2024 08:04:13
| Element List | Explanation |
|---|---|
| Introduction | Saudi Cable Company announces that the Board of Directors decided, by passing on Wednesday 29/10/1445 corresponding to 08/05/2024, to recommend to the Extraordinary General Assembly to Increase the Capital by Offering Right Issue |
| Date of Board Meeting | 2024-05-08 Corresponding to 1445-10-29 |
| Target Amount | 400,000,000 SAR (Four hundred million Saudi Riyals) |
| Reasons for the increase | Capital restructuring and injecting new funds to provide working capital so that the company can increase operational capacity and support its future activity, as part of the proposed financial regulation plan. |
| 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 | Capital increase is subject to Capital Market Authority, and other regulatory authorities’ approvals in addition to Extraordinary General Assembly approval. |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA | The announcement will be made upon appointing a financial advisor and an underwriter for the offering, as well as upon submitting the request for capital increase to the Capital Market Authority for approval and any future development. |
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 136.9
Net Change -0.4 (-0.29%)
Value Traded (Sar) 1,016,857.9
Volume Traded 7,395
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