Enaya GA approves capital increase to SR230 mln through rights issue

The Board of Directors of Saudi Enaya Cooperative Insurance Company, announced on Monday the results of the Extraordinary General Assembly Meeting (the second meeting), which was held Sunday 06/11/2022, in the presence and through modern technology means. due to incomplete quorum required for the first meeting.
The Voting Results on the Items of the General Assembly’s Meeting Agenda’s:
1- Approving on the recommendation of the Board of Directors to increase the company’s capital by through rights shares in accordance with the following:
– Gross amount of capital increase: SR 130,000,000 (SR one hundred and thirty million Saudi riyals)
– Capital before increase: SR100,000,000 (one hundred million Saudi riyals)
– Capital after increase: SR230,000,000 (two hundred and thirty million Saudi riyals)
– Number of shares before increase: 10,000,000 (ten million shares)
– Number of shares after increase: 23,000,000 (twenty-three million shares)
– Capital increase rate: 130%
– Reasons for raising capital: supporting the company’s future plans and enhancing the solvency margin.
– Ways to raise capital: by offering priority rights shares of 13,000,000 ordinary shares (thirteen million shares) worth SR 130,000,000 (SR one hundred and thirty million)
– Eligibility Date: If the item is approved, the shareholders owning the shares on the day of the Extraordinary General Assembly who are registered in the company’s shareholders’ register with the Securities Depository Center Company (Depository Center) will be entitled at the end of the second trading day following the date of the Extraordinary General Assembly.
– Amendment of Article VIII of the Company’s Articles of Association relating to capital
– Eligibility Date: If the item is approved, the shareholders owning the shares on the day of the Extraordinary General Assembly who are registered in the company’s shareholders’ register with the Securities Depository Center Company (Depository Center) will be entitled at the end of the second trading day following the date of the Extraordinary General Assembly.
2 – Approving to Amendment of Article VIII of the Company’s Articles of Association relating to capital.