Mayar BOD Recommends Increasing Capital Through Right Issues for SAR 110 mln

Mayar Holding Co. announced on Monday the Board’s recommendation to increase the capital by offering the right issues at the value of SAR 110 million to enable the company to implement its strategic and operational plans.

– Reducing the loan ratio.

– Supporting the company’s future activities.

– Expansion into new activities.

– Working capital financing.

Eligibility will be for the Shareholders holding shares on the date of the Extraordinary General Assembly meeting in which capital increase through the issuance of right issues was resolved whose names so appear in the register of the Issuer’s Shareholders at the Depository Center at the end of the second trading day following the date of the General Assembly’s Meeting.

The recommendation to increase the capital of the company is subject to the approval of the relevant regulatory authorities and the approval of the Extraordinary General Assembly.

The Company said that it will appoint a Financial Advisor and Submission of the Capital Increase Application File to CMA A financial advisor will be appointed for the offering and to advise on the capital increase, and an announcement will be made upon signing.