CMA agrees to increase capital of Amiantit to SR445.5 mln through rights issue

The Saudi Arabian Amiantit Company announced on Sunday the issuance of the CMA’s resolution on 01-12-2022, including the approval of the Company’s application to increase its capital by way of a rights issue by increasing the company’s capital from SR (99,000,000) to SR (445,500,000), an increase of SR (346,500,000) thus increasing the number of shares from (9,900,000) shares to (44,550,000) shares, an increase of (34,650,000) shares at an average of (3.5) shares per (1) share.
It should be noted that this approval is subject to the Company’s extraordinary general assembly’s approval and the completion of all relevant regulatory requirements and procedures.
The CMA issued its approval on the evening of Thursday 01-12-2022 on the Company’s application to increase its capital by way of a rights issue by increasing the company’s capital from SR (99,000,000) to SR (445,500,000), an increase of SR (346,500,000), thus increasing the number of shares from (9,900,000) shares to (44,550,000) shares, an increase of (34,650,000) shares at an average of (3.5) shares per (1) share.
The increase will be limited to the shareholders who are registered in the shareholders’ registry at the Security Depository Centre as of the closing of the second trading day after the extraordinary general assembly meeting, which will be determined by the Company’s board of directors at a later date.
The CMA issued its approval after the Company fulfilled all the requirements and comments relating to the capital increase application. The Company will work to complete all other related regulatory procedures, including publishing the rights issue prospectus and inviting the Company’s extraordinary general assembly to approve the capital increase.