| Element List |
Explanation |
| Introduction |
Molan Steel Co. announces its Board’s recommendation to increase its Capital by SAR 26,600,000 through the Offering of a Rights Issue. |
| Date of Board Meeting |
2024-10-10 Corresponding to 1446-04-07 |
| Target Amount |
SAR 26,600,000. |
| Reasons for the increase |
The rights issue will allow Molan Steel Co. to buy assets, expand its operations, and finance working capital. |
| Eligibility date |
Shareholders holding shares on the date of the Extraordinary General Assembly meeting in which capital increase through the issuance of right issues was resolved whose names so appear in the register of the Issuer’s Shareholders at the Depository Center at the end of the second trading day following the date of the General Assembly’s Meeting. |
| Approvals |
The Board’s recommendation is subject to the approval of the relevant regulatory authorities and Molan Steel Co. shareholders at the Extraordinary General Assembly Meeting. |
| Appointment of Financial Advisor and Submission of the Capital Increase Application File to CMA |
We will announce later the appointment of the financial advisor for the Rights Issue and the submission of the Capital Increase application file to the CM |
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