AI Summary
Saudi Printing and Packaging Co. plans to raise capital by 8.7%
Saudi Printing and Packaging Co.’s shareholders approved, in an extraordinary meeting (EGM) held on Feb. 8, increasing the company’s capital through the conversion of the remaining outstanding debt of SAR 73.68 million owed to Alinma Bank.
The capital increase of 8.7% will be carried out through the issuance of 5.21 million new shares to Alinma Bank and Alinma Capital.
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Capital Increase Details |
|
|
Item |
Details |
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Current Capital |
SAR 600 mln |
|
Current Number of Shares |
60 mln |
|
Capital After Increase |
SAR 652.07 mln |
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Number of Shares After Increase |
65.20 mln |
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Increase Percentage |
8.7% |
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Number of New Shares Issued |
5.20 mln |
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Record Date |
Feb. 8, 2026 |
The issue price of such shares shall be determined based on the closing price of the trading day preceding the date of the EGM convened for the transaction, in accordance with the terms and conditions set out in the settlement agreements entered into with Alinma Bank and Alinma Capital, the statement added.
This also comes as detailed in the shareholders’ circular, and includes the amendment of Article (7) of the company’s bylaws relating to capital, and Article (8) relating to subscription to shares.
This is in addition to authorizing the board of directors, or any person authorized by the board, to issue any decision or take any action as may be necessary to implement any of the aforementioned resolutions.
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