Walaa Insurance: Amounts of selling fractional shares resulting from capital increase deposited in shareholders’ accounts

Walaa Insurance Company announced on Wednesday that it has completed the sale of the fraction shares resulting from the capital increase of Walaa Insurance Company for the purpose of the Merger (the “Fraction Shares”) and it has deposited the proceeds of such sale in the accounts of the eligible Shareholders, as follows:
The number of sold shares is 4554. The fractional shares sales revenue is 65,890.28. The average selling price per share is 14.49.
The company said in a statement on Wednesday on Tadawul that the date of depositing the amounts for selling fractional shares in the accounts of eligible shareholders will be on 11-17-2022.
The proceeds of shares fractions sale will be distributed by Saudi British Bank “Sabb”, and will deposit the proceeds from the sale of the Fraction Shares in the bank accounts associated with the eligible shareholders’ investment accounts. Eligibility is to the shareholders owning shares in SABB Takaful on 19/02/1444H (Corresponding to 15/09/2022G), and who were registered in SABB Takaful share registry at the Depository Center by the end of the second trading period following that date.
In reference to the announcement made by the Walaa Cooperative Insurance Company (“Walaa Insurance Company”) on 19/10/2022 regarding the effectiveness of the resolution to merge SABB Takaful (the “Merger”),