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SAVOLA GROUP
28 April, 2024 15:57
Savola Group Company Announces the Submission of an Application File to Increase its Capital by Offering Rights Issue to the Capital Market Authority
| Element List | Explanation |
|---|---|
| Introduction | With reference to Savola Group Company's (the “Company”) announcement published on the Saudi Stock Exchange's website (Tadawul) on 26/07/1445H (corresponding to 07/02/2024G) regarding the Board of Directors’ recommendation to increase the Company’s capital by offering rights issue for a value of Saudi Riyals 6 billion and the distribution of its entire (34.52%) stake in Almarai to the Company's eligible shareholders subject to obtaining the approval of the relevant official authorities and the approval of the Extraordinary General Assembly, The Company would like to announce the submission of the application file to the Capital Market Authority regarding the increase of its capital by offering rights issue, on 19/10/1445H (corresponding to 28/4/2024 G). |
| Date of Submitting the Application File to CMA | 2024-04-28 Corresponding to 1445-10-19 |
| Application Subject | The increase of the Company's share capital from Saudi Riyals (5,339,806,840) to Saudi Riyals (11,339,806,840) by issuing rights issue shares for a total value of Saudi Riyals (6,000,000,000). |
| Date of Announcing Board Recommendation to Increase the Company’s Capital by offering rights issue on Saudi Exchange’s Website | 2024-02-07 Corresponding to 1445-07-26 |
| Additional Information | The Company will announce any material developments pertaining to the subject in accordance with the Capital Market Authority’s regulations and the Saudi Stock Exchange’s (Tadawul) rules. |
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