Mayar Holding to Vote on SAR 500 Million Convertible Bonds Issue on July 3rd

The Board of Directors of Mayar Holding Company invited the shareholders to participate and vote in the Extraordinary General Assembly meeting (First meeting), which is scheduled to be held, at 18:30 pm on Wednesday 03/07/2024, via modern technological means through the Tadawulaty system.

According to the company’s statement on Tadawul, the agenda is Vote on the Board of Directors’ recommendation to issue financial instruments convertible into shares denominated in Saudi riyals, with a nominal value of five hundred million (500,000,000) Saudi riyals, through a program to issue these instruments lasting (24) months in a series of separate issues to be publicly offered in the market. Finance in the Kingdom of Saudi Arabia, after obtaining all the necessary approvals and licenses for this, and agreeing that the maximum number of new shares is (1,000,000,000) with a nominal value of (0.50) halalas,

In addition to authorizing the Board of Directors to determine the return of the sukuk that will be issued, and determine the price Converting the bonds into new shares to be issued, and specifying any other conditions related to the conversion procedures or duration.