Enaya Rejects Board Recommendation to Increase Capital

Saudi Enaya Cooperative Insurance Company announced on Sunday the results of the Extraordinary General Assembly Meeting (Second Meeting), which included not approving the Board of Directors’ recommendation to increase capital by offering priority rights shares according to the following:

– Total amount of Capital increase: SAR 150 million

– Reason for increasing capital: In compliance with the minimum required capital of insurance companies and to support the Company’s future plans and support the Company’s financial solvency margin

– Method of increasing capital: Offering and listing priority rights shares for 15 million shares at a rate of (0.65217391304348) for each share owned and at an offering price of (10) riyals per share

– Eligibility date: In the event that the item is approved, the eligibility will be for shareholders who own shares on the day of the Extraordinary General Assembly meeting and are registered in the company’s shareholders’ register with the Securities Depository Centre Company (Depository Centre) at the end of the second trading day following the date of the Extraordinary General Assembly Meeting.

– Amending Article (8) of the Company’s Bylaws related to the Company’s capital.

– Amending Article (9) of the Company’s Bylaws related to subscription to shares.