Saudi Fisheries postpones general meeting to March 23

01/03/2020 Argaam

 

Saudi Fisheries Co. (Alasmak) postponed its extraordinary general meeting (EGM), slated for March 5, 2020, to March 23, 2020, the company said in a bourse statement.

 

Shareholders will discuss the board’s recommendation to increase capital by SAR 298.9 million from SAR 101.1 million to SAR 400 million via a rights issue of 29.8 million shares.

 

The number of shares will be increased from 10.1 million to 40 million.

 

The capital hike will finance Al-Huraida project, the requirements of the working capital and the debt settlement.

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