Development Works Food EGM to vote on capital hike via rights issue on Dec. 6

12/11/2023 Argaam

Development Works Food EGM to vote on capital hike via rights issue on Dec. 6

Logo of Development Works Food Co.

Development Works Food Co.'s shareholders will vote on the board’s recommendation to increase capital through a SAR 216 million rights offering, during an extraordinary general meeting (EGM) to be held on Dec. 6, according to a statement to  Tadawul  today, Nov. 12.

 

Eligibility to the rights shares will be to shareholders of record and those registered with the Security Depository Center (Edaa) as of the close of the second trading day after the EGM, the company added.

 

In December 2021, the company's board of directors recommended a capital hike via a SAR 216 million rights issue, with the aim of supporting future plans and expansions, according to Argaam's data.

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