Lazurde to compensate rights issue owners for unsubscribed shares

Lazurde Company for Jewelry announced that it will start, on July 5, the distribution of compensation to rights issue owners who did not use their rights to subscribe to new shares.

The total amount to be distributed stands at approximately SAR 20.2 million.

Lazurde will deposit the amount in the bank accounts of eligible investors who have not exercised their right to subscribe to new shares and those entitled to fractional shares.

As for the eligible investors whose bank account details are not available or incomplete, they can visit the head office of the company or contact investor relations department on phone number: 0112170369 or email: investors@lazurde.com.

In June, Lazurde shareholders approved the board’s recommendation to increase capital to SAR 575 million through a rights issue worth SAR 145 million, Argaam reported.