SAUDI ENAYA COOPERATIVE INSURANCE COMPANY TADAWUL:8311:
BOARD RECOMMENDS CAPITAL REDUCTION FOLLOWED BY RIGHTS ISSUE
CAPITAL AFTER DECREASE 154.8 MILLION RIYALS
CAPITAL REDUCTION WILL HAVE NO IMPACT ON FINANCIAL OBLIGATIONS
APPOINTED ALAWWAL CAPITAL AS FINANCIAL ADVISOR
BOARD RECOMMENDS, POST CAPITAL REDUCTION, TO INCREASE CAPITAL THROUGH RIGHTS ISSUE OF SAR 160 MILLION
PRIMARY OBJECTIVE OF PROPOSED CAPITAL INCREASE IS TO ENABLE CO TO MEET MINIMUM CAPITAL REQUIREMENT
PROPOSED CAPITAL INCREASE THROUGH A RIGHTS ISSUE IS CONDITIONAL UPON ITS APPROVAL OF PROPOSED CAPITAL REDUCTION
APPOINTS ALAWWAL CAPITAL AS FINANCIAL ADVISOR, LM, AND UNDERWRITER FOR PROPOSED CAPITAL INCREASE