AYYAN Investment shareholders to vote on 9.4% capital hike on Oct. 13

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Ayaan Investment Co.’s shareholders will vote on the board's recommendation on increasing capital by 9.4%, or SAR 69.04 million, from SAR 737.3 million to SAR 806.4 million, during an extraordinary general assembly meeting scheduled to be held on Oct. 13, according to a bourse filing.

The company noted that board member Ahmed bin Abdullah Al-Khayyal, is considered a related party, and that the votes of related parties will not be counted during voting on the decisions of the acquisition deal in the extraordinary general assembly regarding the capital increase.

The Capital Market Authority (CMA) approved on Aug. 30, the company’s request to increase its capital from SAR 737.3 million to SAR 806.4 million by issuing 6.9 million ordinary shares to acquire 26.43% shares of Al-Ahsa Medical Services Co.

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