Logo of Gulf Union Alahlia Cooperative Insurance Co.
Shareholders of Gulf Union Alahlia Cooperative Insurance Co. will vote on the board’s recommendation to increase the company’s capital through a SAR 229.5 million rights issue, during the extraordinary general assembly meeting (EGM) scheduled for April 20.
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Capital Increase Highlights |
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Current capital |
SAR 229.50 mln |
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Number of shares |
22.95 mln |
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Capital increase % |
100% |
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Capital after increase |
SAR 458.95 mln |
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Number of shares after increase |
60 mln |
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Driver |
Support the company’s future plans, enhance solvency margin and boost investment income |
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Method |
Offering 22.95 million shares through SAR 229.5 million rights issue |
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Eligibility date |
April 20, 2022 |
The meeting will be held virtually. Shareholders registered in Tadawulaty system can start voting on the agenda from April 16.
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