Riyadh — Mubasher: Saudi Fisheries Company has invited its shareholders to an extraordinary general meeting (EGM) scheduled for 27 September.
The primary agenda item is a proposed capital increase of SAR 334.93 million through the issuance of 33.49 million new ordinary shares via a rights issue.
The company plans to raise its capital by 500%, moving from the current SAR 66.99 million to SAR 401.92 million.
Under the proposal, the total number of shares will increase from 6.69 million to 40.19 million. The new shares will be offered at a price of SAR 10 per share.
According to the disclosure, the capital hike is intended to enable the company to execute its strategic plans and support future activities.
Eligibility for the rights issue will be for shareholders holding shares on the day of the assembly meeting and who are registered with the Securities Depository Center (Edaa) at the end of the second trading day following the meeting.
The meeting, originally scheduled for 2 September, will also include a vote on electing board members for a new three-year term starting 25 October.
The assembly will be held both in person at the company’s headquarters in Riyadh and virtually via the Tadawulaty system.
