Gulf Union Alahlia shareholders to vote on SAR 229.5 mln rights issue on April 20

29/03/2022 Argaam
Logo of Gulf Union Alahlia Cooperative Insurance Co.

Logo of Gulf Union Alahlia Cooperative Insurance Co.

Shareholders of Gulf Union Alahlia Cooperative Insurance Co. will vote on the board’s recommendation to increase the company’s capital through a SAR 229.5 million rights issue, during the extraordinary general assembly meeting (EGM) scheduled for April 20.

 

Capital Increase Highlights

Current capital

SAR 229.50 mln

Number of shares

22.95 mln

Capital increase %

100%

Capital after increase

SAR 458.95 mln

Number of shares after increase

60 mln

Driver

Support the company’s future plans, enhance solvency margin and boost investment income

Method

Offering 22.95 million shares through SAR 229.5 million rights issue

Eligibility date

April 20, 2022
 

The meeting will be held virtually. Shareholders registered in Tadawulaty system can start voting on the agenda from April 16.

 

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