Correction announcement from Middle East Paper Co. in regard to the date of the board's recommendation to increase the Company’s capital by issuing new shares with suspension of preemptive rights
|Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul's Website||2023-09-03 Corresponding to 1445-02-18|
|Hyperlink to the Previous Announcement||Click Here|
|Incorrect statements in the previous announcement||In the announcement published on 3 September 2023G, there was a reference to the "Date of Announcing Board Recommendation to Increase the Company's Capital" on Tadawul's Website" to be on 14-01-1445H corresponding to 01-08-2023G.|
|Correct Statement||The Board of Directors of the company has recommended by circulation on 13-02-1445H corresponding to 29-08-2023G to increase the Company's capital by issuing nineteen million nine hundred ninety-nine thousand nine hundred ninety-nine (19,999,999) new ordinary shares with a nominal value of ten (10) Saudi Riyals per share, at an offer price of thirty-one and a half (31.5) Saudi Riyals per share and with a total offer value of six hundred twenty-nine million nine hundred ninety-nine thousand nine hundred and sixty-eight Saudi Riyals and fifty Halalas (629,999,968,50) with suspension of preemptive rights of 30% of the Company’s current capital, which will be fully subscribed by the Public Investment Fund ("PIF"). PIF’s ownership will be 23.08% of the Company’s capital, after the capital increase.|
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