Amiantit: Trading priority rights and subscribing to new shares begins on Tuesday

Saudi Arabian Amiantit Company announced on Sunday the determining of the period for the Right Issues Trading and New Shares Subscription Period, which begins on February 27, 2024 and ends on March 5, 2024.

Right holders may exercise their subscription right, in whole or in part, to the new shares in proportion to the rights existing in their portfolios. For registered shareholders and new investors, trading of the rights and subscription to the new shares shall be pursuant to the details set forth in the prospectus.

But, should there be unsubscribed shares after the end of the subscription period, the said shares and fractional shares (if any) will be offered to institutional investors in accordance with the details set forth in the prospectus. The underwriter “Wasatah Capital” will underwrite the new shares which remain unsubscribed after the rump offering.

Eligibility will be for shareholders are those who own shares at the end of the trading day of the Extraordinary General Assembly and whose names appear in the Company’s shareholders register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the day of the Extraordinary General Assembly which was held on 20/02/2024.