Al-Khodari gets CMA nod to hike capital through debt conversion

29/05/2018 Argaam

 

The Capital Market Authority has approved Abdullah A. M. Al-Khodari Sons Company's request to increase its capital from SAR 557.81 million to SAR 1.02 billion through debt conversion, it said in a statement on Monday.

 

The approval is conditional on getting the endorsement from the company’s extraordinary general assembly and completion of the necessary procedures in relation to the applicable regulations.

 

A shareholders’ circular will be published clarifying reasons for the capital increase and its objectives within sufficient time prior to the meeting to enable shareholders to vote on the capital increase through debt conversion, the statement added.

 

Argaam reported earlier that shareholders would meet on May 30 at the general assembly meeting to approve the board’s recommendation to withhold dividend for 2017.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read