Raydan Food shareholders to vote on SAR 112.5 mln rights issue on July 13

21/06/2021 Argaam

Raydan Food Co.’s shareholders are set to vote on a capital hike through a SAR 112.5 million rights issue, during the extraordinary general meeting (EGM) that will be held on July 13, via Tadawulaty platform.

 

The capital increase will be limited to shareholders registered at the Security Depository Center (Edaa) as of the close of the second trading day after theEGM, Raydan said in a bourse filing.

 

The capital hike proceeds will be used to finance the company’s future plans and expansions, as well as inject fresh funds to finance working capital and boost operating capacity.

 

Shareholders registered in Tadawulaty system will be able to start voting on the agenda items as of July 9.

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