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Saudi Advanced Industries Company announces the recommendation of its Board of Directors to distribute part of its stake in Obeikan Glass Company to shareholders.
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Advanced Industries Company (SAIC) announces the recommendation of the Board of Directors on 06/09/1445H corresponding to 16/03/2024 AD to the General Assembly to distribute part of its share in Obeikan Glass Company, which is equivalent to (300,000) shares, to the shareholders of the Saudi Advanced Industries Company, and aims Distributing a portion of the shares owned in Obeikan Glass Company to maximize the investment value for shareholders of the Saudi Advanced Industries Company. This distribution will contribute to Obeikan Glass Company fulfilling one of the conditions for moving from the parallel market (Nomu) to the main market (TASI), which is the liquidity condition. The entitlement and distribution date and any fundamental developments will be announced later, after the approval of the relevant competent authorities and the General Assembly. |
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 42.6
Net Change -2.3 (-5.12%)
Value Traded (Sar) 79,910,969.75
Volume Traded 1,825,776
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