Batic shareholders approve SAR 300 mln rights issue to raise capital by 100%

Capital Increase Highlights

Current capital

SAR 300 mln

Number of shares

30 mln shares

Capital increase %

100%

Capital after increase

SAR 600 mln

Number of shares after increase

60 mln shares

Rights Issue Highlights

Number of rights shares

30 mln shares

Offering price per share

SAR 10

Issuance size

SAR 300 mln

Eligibility ratio

Each registered shareholder shall have one right for every share held

Record date

Dec. 6 (Shareholders of record by the close of trading on the second day following the EGM date)

Use of rights issue proceeds

Partial repayment of the bridge loan to Bank AlJazira to acquire 35.8% of Smart Cities Solutions Co.

SAR 107.87 mln

Cost to acquire Smart Cities Solutions Co.

SAR 1.31  mln

Financing Smart Cities Solutions Co. to pay its dues to AMNCO

SAR 20.00  mln

Financing Smart Cities Solutions Co. to pay the remaining rent due to Eastern Region Municipality, related to smart parking project

SAR 24.44  mln

Repayment of short-term loans

SAR 40.00  mln

Financing smart parking projects

SAR 46.20  mln

Supporting working capital of AlShifa Medical Technology Co.

SAR 5.00  mln

Acquiring income-generating assets and businesses

SAR 50.00  mln

Issue costs

SAR 5.18  mln