Logo of Etihad Atheeb Telecommunication Co. (GO)
Etihad Atheeb Telecommunication Co.'s (GO) shareholders will vote on increasing capital through a SAR 250 million rights offering, during an extraordinary general meeting (EGM) to be held on Feb. 6, the company said in a statement to Tadawul.
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Capital Increase Details |
|
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Current Capital |
SAR 89.99 mln |
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Number of Shares |
8.99 mln |
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Percentage Increase |
277.78% (2.7778 rights for every 1 share) |
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New Capital |
SAR 339.99 mln |
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New Number of Shares |
33.99 mln |
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Method |
Issuance of rights shares worth SAR 250 mln |
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Purpose of Capital Hike |
To develop and modernize the company's business systems and networks as well as repay some of its obligations |
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Eligibility |
To shareholders who are registered with the Securities Depository Center (Edaa) by the close of trading on the second trading day after the EGM date |
In March 2023, the company's shareholders disapproved of increasing capital through a SAR 250 million rights offering to raise capital to SAR 340 million, according to Argaam's data.
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