ALALAMIYA Board recommended capital increase through right issues

27/04/2014 10:55 AST

In relation to the announcement of the company dated 24/6/1435H corresponding to 24/4/2014G on the receipt of the conditional approval from SAMA on the Raise of capital, Al Alamiya for Cooperative Insurance Company announces the recommendation of the Board of directors through a circular resolution dated 24/6/1435H corresponding to 24/4/2014G, an increase in the company's capital through a rights issue with a total value of SAR 200 Millions subject to meeting the requirements set by SAMA and the approval of the regulatory authorities and the extraordinary general assembly on the capital increase, the price and the number of shares to be issued. The date will be the close of trading on the extraordinary general assembly day.

The reasons for recommendation are to maintain the solvency margin of the business and support the future growth of the company.


Tadawul

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