AYYAN to Increase Capital to SAR 1 Billion

The Board of Directors of AYYAN Investment Company announced on Tuesday the results of the Extraordinary General Assembly Meeting, including the approval of the Company’s capital increase (Second meeting).

According to the company’s statement on Tadawul, details of the meeting’s results were as follows:

Item One : Approved the Board of Directors’ recommendation to increase the capital by offering priority rights shares, in accordance with the following:

1. Company Capital Before Increase:

eight hundred and six million three hundred and sixty-three thousand two hundred and eighty (SR.806,363,280) Saudi riyals.

1. Company Capital After Increase:

one billion six million three hundred and sixty-three thousand two hundred and eighty (SR.1,006,363,280) Saudi riyals.

1. Percentages of Change in Capital:

24.80% of the company’s capital.

1. Number of Company Shares Before the Increase:

Eighty million six hundred and thirty-six thousand three hundred and twenty-eight (80,636,328) ordinary shares.

1. Number of Company Shares After the Increase:

one hundred million six hundred and thirty-six thousand three hundred and twenty-eight (100,636,328) ordinary shares.

1. Reason for the Capital Increase: Purchasing medical devices and equipment for Al Salam Hospital, affiliated with Al Salam Medical Services Company (a subsidiary), paying the suppliers of the subsidiary companies (Al-Ahsa Medical Services Company and Al Salam Medical Services Company), and paying obligations owed by Al Salam Medical Services Company (a subsidiary). To financing parties and payment of operational expenses for Al Salam Medical Services Company (a subsidiary).
2. Method of Increasing Capital: Offering of twenty million (20,000,000) rights issue shares at ratio of (0.2480) right for each (1) share.
3. Offering Value for Each Share and Nominal Value: ten (10) Saudi Riyals ; Number of Offered Shares: twenty million (20,000,000) ordinary shares.
4. Total Amount of Increase: (SR.200,000,000) Saudi riyals two hundred million.
5. Will be eligible the shareholders who own shares at the end of the trading day of the extraordinary general assembly and are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the extraordinary general assembly.
6. Amending Article (7) of the company’s bylaws related to capital.

Item Two : Approved to amend the Company’s Bylaws in accordance with the New Companies’ Bylaws.

Item Three: Approved to add an Article to the Company’s bylaws under the number (Article Ten) related to (the company’s purchase, sale, and mortgage of its shares).

Item Four: Disapprove to Amending Article (Sixteen) of the Company’s bylaws, related to (company management).