Al Khaleej Training and Education Company announces the recommendation of the Board of Directors to increase the company’s capital by offering priority rights shares.
|Introduction||Al Khaleej Training and Education Company announces the recommendation of the Board of Directors to increase the company’s capital by offering priority rights shares.|
|Date of Board Meeting||2021-03-30 Corresponding to 1442-08-17|
|Target Amount||200 million Saudi riyals|
|Reasons for the increase||The company aims to finance and implement its future plans and projects, expand its various activities and acquire assets in the field of education.|
|Eligibility date||Provided that the eligibility of the shareholders who own the shares on the day of the extraordinary general assembly that will decide to increase the capital by offering priority rights shares and whose names appear in the issuer’s shareholder register at the Depository Center at the end of the second trading day following the date of the assembly|
|Approvals||Approval of the relevant official authorities and the extraordinary general assembly|
|Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA|
Messrs. / Arab National Investment Company – was appointed as the financial advisor for the offering.
The announcement will be made later when the file of the capital increase request is submitted to the Capital Market Authority, and when there are any future developments in this regard.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.