MEPCO expects to deposit amounts for sale of fractional shares resulting from capital increase… January 8

Middle East Paper Co. (MEPCO) announced on Wednesday the completion of selling the fractional shares resulting from the increase of the company’s capital, according to the following:

– The date of completion of selling the fractional shares: 01-12-2022

– Number of shares sold: 14,467 shares.

– Amount returned from selling the fractional shares: SR408,704.68

– Average selling price for each of the shares sold: SR28,25

Middle East Paper Co. also announced that it was not able to distribute the amounts resulting from the selling of the fractional shares to the eligible shareholders during the period mentioned in the company’s announcement on Tadawul which is thirty days from the date of defining the shares due to each shareholder.

The distribution process is expected to be completed on January 08, 2022.

It will be announced later when the completion of the process of distributing the selling amounts to the eligible shareholders.

It concluded that: “We would like to point out that it has been announced by The Securities Depository Centre Company (Edaa) the implementing of securities quantity Increase for Middle East Paper Co. on the Centre’s Accounts of eligible securities holders on the 29th of November 2022”.

The company urges its respected shareholders to update their bank data related to their investment portfolios to facilitate the process of depositing the amounts resulting from the selling fractional shares.