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Arab Sea Information Systems Company announces the approval of its Board of Directors by circulation to raise the capital of one of its subsidiaries.
| Element List | Explanation |
|---|---|
| Announcement Detail | Arab Sea Information Systems Company announces the approval of its board of directors by circulation on the request of one of its subsidiaries, (Arab Sea Financial Company), to raise the company’s capital from (5,000,000) Saudi Riyals to (15,000,000) Saudi Riyals by capitalizing the incorporation expenses and covering the remainder of the capital from Arab Sea Information Systems company resources to support its financial position. This step comes in view of the company's strategic direction to start the activity of E- payments, as the subsidiary company has completed all the requirements for establishing and obtaining the final license from the Central Bank of Saudi Arabia. The financial impact will be announced later. |
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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Company Performance
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Last Price 3.26
Net Change -0.03 (-0.91%)
Value Traded (Sar) 1,679,872.38
Volume Traded 514,613
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