Saudi Fisheries shareholders to vote on capital hike on May 14

13/04/2020 Argaam

 

Saudi Fisheries Co.’s (Alasmak) shareholders are set to vote on the board’s recommendation to increase capital from SAR 101.1 million to SAR 400 million through a rights issue of 29.8 million shares during the extraordinary general meeting (EGM) that will be held on May 14.

 

Key Figures of the Capital Hike

Current Capital

SAR 101.1 mln

Number of shares

10.11 mln shares

Method of Increase (%)

Rights issue at 29.89 mln shares

Increase

SAR 298.9 mln

New Capital

SAR 400 mln

New number of shares

40 mln shares

Reasons

The capital hike will finance Al-Huraida project, the requirements of the working capital and debt settlement

Record day

The second day following the EGM

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