Salama pays compensation for unsubscribed rights issue shares

Logo of Salama Cooperative Insurance Co.

Salama Cooperative Insurance Co. announced distributing compensation worth SAR 7.56 million to rights issue holders who did not exercise their right to subscribe to the new shares.

The company said it will deposit the compensation amounts into the bank accounts associated with the portfolios of eligible individuals who did not exercise their subscription rights for the new shares, according to a statement to Tadawul.

For eligible individuals with incomplete or unavailable account information, they can contact the investor relations department during official working hours from 8:00 a.m. to 4:00 p.m.

The company acknowledged that some compensation amounts could not be transferred to their intended recipients due to insufficient information about their account numbers, the statement added.