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Takween Advanced Industries Announces the Appointment of the Financial Advisor, Lead Manager, and Underwriter in Relation to the Board of Directors' Recommendation to Reduce the Company's Capital and Subsequently Increase it through a Rights Issue of SAR 400 million.
| Element List | Explanation |
|---|---|
| Introduction | With reference to Takween Advanced Industries Company's announcement published on the Saudi Exchange (Tadawul) website on 09/01/1448H (corresponding to 24/06/2026G) regarding the Board of Directors' recommendation to reduce the Company's share capital and subsequently increase it through a rights issue, the Company announces that the Board of Directors approved, on 27/01/1448H (corresponding to 12/07/2026G), the appointment of Albilad Capital as the Financial Advisor, Lead Manager and Underwriter in relation to the proposed capital reduction and subsequent capital increase through a rights issue with a total value of SAR 400 million, as part of completing the regulatory procedures required to implement the transaction. |
| Previous Announcement | The recommendation of the Board of Directors of Takween Advanced Industries Company to reduce the Company's capital and subsequently increase it through a rights issue. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-06-24 Corresponding to 1448-01-09 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Board of Directors of Takween Advanced Industries Company approved, on 27/01/1448H (corresponding to 12/07/2026G), the appointment of Albilad Capital as the Financial Advisor, Lead Manager and Underwriter in relation to the proposed capital reduction and subsequent capital increase through a rights issue with a total value of SAR 400 million, in accordance with the terms and conditions set out in the engagement agreement, and as part of completing the regulatory procedures relating to the capital reduction and capital increase transactions. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There is no material change in the costs associated with the announced event. |
| Delay consequences on the Company’s financial results | Not Applicable |
| Additional Information | The appointment of the Financial Advisor forms part of the regulatory procedures relating to the proposed capital reduction and subsequent capital increase through a rights issue. It should also be noted that, as of the date of this announcement, the application for the proposed capital reduction has not yet been submitted to the Capital Market Authority. The Company will continue to complete the required regulatory procedures and will announce any material developments in due course in accordance with the applicable laws and regulations. |
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 4.69
Net Change -0.01 (-0.21%)
Value Traded (Sar) 1,156,431.02
Volume Traded 246,199
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