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Saudi Arabian Refineries Company (SARCO). Announces the Board's Recommendation to Increase the Capital by Offering Right Issues
2030
SARCO
-0.38
%
1447/10/07 26/03/2026 15:47:15
| Element List | Explanation |
|---|---|
| Introduction | Saudi Arabian Refineries Company – SARCO (the “Company”) announces that the Board of Directors has issued a resolution dated March 26, 2026 (corresponding to October 7, 1447H), recommending to the Extraordinary General Assembly an increase of the Company’s capital by SAR 300,000,000, representing 66.66% of its current capital, through the offering of rights issue shares (“Rights Issue”). |
| Date of Board Meeting | 2026-03-26 Corresponding to 1447-10-07 |
| Target Amount | SAR 300,000,000 |
| Reasons for the increase | To support and finance the Company’s investment projects. |
| 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 | The Board’s recommendation is subject to the approval of the relevant regulatory authorities and company shareholders at the EGM |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA | Alinma Capital Company has been appointed as the financial advisor for the Rights Offering and the submission of the capital increase application. Also, an announcement will be made when the capital increase application file is submitted to the Capital Market Authority, and any future developments in this regard. |
| Additional Information | Nil |
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 52.75
Net Change -0.2 (-0.38%)
Value Traded (Sar) 8,929,450.75
Volume Traded 168,631
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