One of Thimar’s branches
Thimar Development Holding Co.'s shareholders will vote on the board’s recommendation to increase capital through a SAR 150 million rights offering, during an extraordinary general meeting (EGM) to be held on Oct. 8, according to a statement to Tadawul today, Sept. 17.
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Capital Increase Details |
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Current Capital |
SAR 100 mln |
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Number of Shares |
10 mln |
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New Capital |
SAR 250 mln |
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New Number of Shares |
25 mln |
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Percentage Increase |
150% (or 1.5-for-1 share) |
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Method |
Issuing 10 mln shares |
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Reason for Increase |
Implementing the financial restructuring plan, boosting the company's activities and paying off debts |
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Record Date |
Oct. 8, 2023 (Shareholders of record and those registered with the Security Depository Center (Edaa) as of the close of the second trading day after the EGM) |
Other agenda items include voting on amending the company’s bylaws in accordance with the new Companies Law and rearranging the articles of the bylaws and numbering them to complement the proposed amendments.
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