Thimar EGM to vote on capital hike via rights issue on Jan. 22

05:53 PM (Mecca time) Argaam
Logo ofThimar Development Holding Co.

Logo of Thimar Development Holding Co.

Thimar Development Holding Co.'s shareholders will vote on the board recommendation to increase capital through a SAR 195 million rights offering, during an extraordinary general meeting (EGM) to be held on Jan. 22, the company said in a statement to Tadawul.

 

Capital Increase Details

Current Capital

SAR 65 mln

Number of Shares

6.5 mln

New Capital

SAR 260 mln

New Number of Shares

26 mln

Percentage of Increase

300% (3 rights-eligible shares per each ordinary share)

Method

Rights issuance worth SAR 195 mln

Reason

Implement the financial organization plan to ensure the company's continuity and growth.

Record Date

The company said that the decision, if approved, will be effective for shareholders owning shares on the day of the EGM who are registered with Edaa at the end of the second trading day following EGM date.
 

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