Al-Omran Extraordinary GA agrees to increase capital by offering priority rights at SAR 60 mln

The Board of Directors Al-Omran Industrial Trading Co. announced on Thursday the results of the extraordinary general assembly meeting, which includes increasing the company’s capital (the second meeting) through modern technological means.

Voting Results:

The first item: Approval of the Board of Directors’ recommendation dated 22/01/1444 AH corresponding to 20/08/2022 AD to increase the capital by offering priority rights according to the following: –

– The total amount of capital increase is 60,000,000 Saudi riyals

Reasons and methods for changing capital: By increasing its capital by offering priority rights, the company aims to support the company’s future plans, reduce the borrowing rate, and develop and modernise the company’s factories.

Eligibility date: Eligibility will be for shareholders who own shares on the day of the extraordinary general assembly and are registered in the company’s shareholder registry with the Securities Depository Center Company (Edaa Center) at the end of the second trading day following the date of the extraordinary general assembly.

– Approval of amending Article Six (6) of the company’s bylaws, related to the company’s capital and shares, to reflect the increase in capital.

– Approval of amending Article Seven (7) of the company’s bylaws, related to subscription for shares, to reflect the increase in capital.

The second item: Approval of amending the company’s bylaws to harmonize it with the new companies’ bylaws, and rearranging and numbering the articles of the bylaws to be compatible with the proposed amendments.