MEDGULF distributes compensation to Right Issues owners who didn’t subscribe to New Shares

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (Medgulf) announced on Monday the distribution of the compensation amounts to the Rights Issue owners who did not exercise their rights to subscribe to the New Shares.

Total amount to be distributed to eligible persons who did not exercise their subscription right and those eligible for fractions is SR23,629,754.50.

The company indicated on Tadawul on Monday that the lead manager will deposit the amounts in the bank accounts of eligible investors who have not exercised their right to subscribe to new shares and those entitled to fraction. As for the eligible investors whose bank account data is not available or incomplete.